Taiwan smartphone maker HTC First Quarter profit falls 70 per cent due to competition
TAIPEI, Taiwan – Taiwan smartphone maker HTC Corp. has reported a 70 per cent drop in first quarter profit. Two of the main reasons are Apple Inc. and Samsung Electronics Co.
On Friday, HTC said that profit amounted to 4.5 billion New Taiwan dollars ($152 million) from revenue of NT$68 billion in the three months ending with March.
Revenue was down 35 per cent from a year earlier.
HTC marketed a series of new model this month (HTC One X), which allow a user to snap four pictures in a second while making videos simultaneously. It hopes the “HTC One” series can help boost revenue in the second quarter.
HTC has grown on the strength of the design of its handsets, based on Google’s Android operating system. Not only this but also due to the fact that they were one of the earlier adopters of the android operating system.