HTC ends 2012 with 95 per cent dip in profits | Mobile Industry | Mobile Entertainment

HTC ends 2012 with 95 per cent dip in profits

HTC ends 2012 with 95 per cent dip in profits
Daniel Gumble


Industry / Market Data / February 4th 2013 at 2:45PM

Sales also slumped year-on-year by 41 per cent.

Having endured a difficult 2012, Taiwanese manufacturer HTC ended the year with a 95 per cent slump in profits.

The firm’s 2012 Q4 results revealed that its profits were at NT$600m (£12.9 million), representing a significant downturn from its 2011 Q4 figures of NT$12.9bn (£277.4m). Its profits also dropped by 88 per cent on 2012 Q3.
HTC’s sales also experienced a significant slump, falling by 41 per cent year-on-year to NT$60.0bn (£1.29bn). And, while the launch of its Windows Phone 8 smartphones during the fourth quarter looked set to provide a much-needed boost, the firm’s sales also fell by 14 per cent on the year’s third quarter.

Commenting on the company’s hopes for the next trading quarter. Peter Chou, CEO of HTC, said: “We continue to focus on the most important element of our business: innovation. Our teams are delivering beautifully designed phones, containing the newest technological advancements. Outstanding products, paired with improvements in our marketing execution and overall readiness give us reason to feel optimistic about the progress we will make in 2013.”

Last month, Peter Chou admitted that the company had failed to act sufficiently on the marketing front, saying that it had not done enough to market its critically acclaimed products effectively.

* Like what ME does? Make sure you sign up to our free daily news headline service by clicking here. You can also follow/like us on Twitter and Facebook.