HTC profit dips in Q1 2012 But Sales Are Rising

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The Taiwanese company released its unaudited Q1 2012 earnings report today, and things just aren’t looking good. Company’s Profits were way down from Q1 2011 – by an alarming 70%. Its revenue has fallen by shy of 35 percent compared to the same period a year ago, with the company still reeling from a painful January where revenues fell by almost 50 percent, dropping to $565 million compared to around $1.2 billion in January 2011.

HTC’s Chief Financial Officer Winston Yung on February 6 admitted that HTC’s products in Q4 2011 weren’t exactly what their fans expected them to be. HTC is the fifth largest smartphone maker in the world, with its phones running Android and Microsoft’s ailing mobile operating system Windows Phone. On the upside, HTC expects much better financial results in Q2 2012, as all their Q1 efforts went into manufacturing the One series of smartphones, recently launched in Europe and several additional markets, and expected to reach the US later this quarter.

Source: HTC (PDF)