Mobi Press

Mobi Press

HTC sees big drop in revenue, profit during Q1 2012

Posted by Admin Sunday, April 8, 2012

HTC has revealed its Q1 2012 financials and things are looking pretty dismal for the company. Following its rough Q4 2011 where the company saw its first decline in profits in two years, HTC posted a 35 percent decrease in revenues and 70 percent decline in profits in Q1 2012 over the same period a year ago.
According to HTC's figures, the company brought in 68 billion TWD (US$2.3 billion) in revenue in Q1, a 35 percent drop from the 104 billion TWD it earned in Q1 2011. Profits were a mere 4.5 billion TWD ($152 million), down from 14.8 billion TWD that it saw a year prior.
This past quarter, HTC launched the One series of smartphones, which it hopes will turn its fortunes around this year. The One X and One S have already hit shelves in Europe, and are due to land in the U.S. in the near future. The company has also promised to streamline its offerings in 2012, and release fewer devices than it has in previous years.

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