HTC's financial woes continue
Profits down 79% for Q3
TechTrade | 09 Oct 2012 :
Embattled handset manufacturer HTC's fortunes continue to suffer, with results for Q3 revealing a 79% drop in net profit over the same period last year. According to a report from the BBC
, net profit was €103 million, down from €492 million over the July-September quarter.
The Taiwanese company - and fifth largest smartphone manufacturer - has been under pressure in the mobile space as Samsung surged ahead with its premium Galaxy range of handsets, the newest of which - the S III - managed to sell over 20 million units in its first 100 days.
HTC was one of the first manufacturers to adopt Google's Android operating system but its scattershot approach to product releases failed to secure broad approval. The acquisition of Beats Audio earlier this year failed to attract users, while the consolidation of its handsets under the HTC One brand hasn't proved a success. It is now expected HTC will pivot more towards the business market as Microsoft gets ready with a line of Windows Phone 8 smartphones - starting with the Windows Phone 8x - to coincide with the release of its Windows 8 operating system on 26 October.
HTC was a launch OEM partner for Windows Phone 7, a mobile operating system that currently holds 5.2% of the global market, according to analysts IDC.