HTC profits slump 98 per cent in Q1 | Mobile Industry | Mobile Entertainment

HTC profits slump 98 per cent in Q1

HTC profits slump 98 per cent in Q1
Daniel Gumble

by

Industry / Market Data / April 8th 2013 at 12:07PM

Delayed HTC One launch cited as main reason behind record low figures.

HTC’s Q1 profits have fell by a stonking 98 per cent, resulting in the firm’s worst ever quarterly performance, Mobile News has reported.

The Taiwanese manufacturer’s profits for Q1 2013 were down by 98 per cent on its figure from last year, coming in at £1.85 million.

HTC’s dire Q1 profits have fallen significantly short of expectations, say analysts from Taiwan.

It is thought that the delayed release of the firm’s new HTC One smartphone is one of the key reasons behind its dip on profits.

At present, the HTC One handset is still only available in ‘limited markets’, due to a series of problems encountered during the production of the device’s camera.

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