HTC Posts Lowest Net Income Since 2004
HTC was down 61% in October 2012, compared to the same period of 2011, and it doesn’t look like things are getting better for the Taiwanese phone maker. According to new financial figures the company has posted its lowest profit since 2004.
The net income for the last quarter of 2012 was NT$1 billion ($34 million), much less than the NT$10.9 billion posted in 2011. These figures represent HTC’s lowest profit recorded in the last eight years, due mainly to strong competition from Apple’s iPhone and Samsung’s Galaxy phones which continued to steal market share from the Taiwanese company, as Bloomberg notes. On the Windows Phone side, there is strong competition from Nokia who is also dealing with its own crisis.
However, HTC is expected to launch more innovative devices at this year’s CES and MWC, like the rumored M7, following-up on the 1080p screen equipped Droid DNA or Butterfly. Whether that will be enough to keep HTC from sinking depends on what its direct competitors, like Samsung, are having in store for this year.