By: iPadfanzz staff on April 8, 2013
Taiwanese smartphone maker HTC posted extremely disappointed first quarter profit, after the company was forced to push back the launch of its newest flagship phone to April.
HTC said its net profit for the quarter reached NT$85 million ($2.84 million), its lowest for the quarter according to online financial records stretching back to 2005. This is a significant fall given that the company consistently posted net profit in excess of 1 billion Taiwanese dollars. Last year, for example, the net profit for the first quarter reached NT$4.47 billion.
First-quarter revenue was T$42.8 billion, lower than the T$50-60 billion range that HTC had forecast in February.
In March, HTC rolled out its latest smartphone, the HTC One, in just three countries, as against 80 countries it had originally planned. The company expects the sales of HTC One to kick off only after April across Europe, North America and the Asia-Pacific region.
HTC was the world’s 10th-biggest smartphone maker by shipments in the fourth quarter, according to IT research firm Gartner.
