HTC Posts $41.6m Profit In Q2 2013

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HTC Posts $41.6m Profit In Q2 2013

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Taiwan smartphone maker HTC said on Friday that despite launching the flagship One smartphone — HTC’s Q2 2013 profit is down a whopping 83 percent on Q2 2012.

The result comes as the firm struggles to turn things around with its high-end HTC One smartphone and heavier marketing strategy.

Unaudited net profit in the second quarter came in at Tw$1.25 billion ($41.67-million), compared with Tw$7.4 billion a year ago but up sharply from the Tw$85 million in January-March, the company said.

Revenue fell 22 percent to Tw$70.7 billion year-on-year but surged 65 percent from quarter to quarter and was line with its own forecast of Tw$70.0 billion.

The company showed its first sign of comeback in May, when it recorded revenue of NT$29 billion ($970 million) and, though sales for June dropped 24 percent to NT$22 billion ($732 million), the company is at least continuing to be profitable.

That, unsurprisingly, is being largely credited to Samsung’s Galaxy S4, which reached the market after the HTC One but with a considerably larger marketing budget.

HTC is yet to comment on the numbers, nor indeed how the company sees its performance changing over the next quarter. Fast incoming is the HTC One Mini, if the rumor-mill is to be believed, which will supposedly bring features like the UltraPixel camera and unibody casing design to a cheaper price point, courtesy of a smaller display.



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Shivaank Rana
iGyaan's Carlos Santana! Shivaank loves Apple products! He stays up to date with the latest happenings of the tech world and gets his hands dirty with the latest Gadgets! Follow Him on Google Plus : Google+