Profits and revenues down year-on-year for Taiwanese handset manufacturer, citing the poor economic situation in Europe damaging consumer demand
HTC has reported a fall in profits of 58 per cent for Q2, with the manufacturer blaming the poor European economic climate hitting consumer demand.
It also said delays to shipments of new phones to the US due to customs inspections following a recent patent dispute loss with Apple had also hit figures.
Between April and June, HTC’s net profit was T$ 7.4 billion (£159.3 million), down from £377.1 million in the same period a year ago. However this was up from £96.2 million in the previous quarter.
Revenues for the quarter were £1.96 billion, down 27 per cent from the £2.68 billion figure posted in Q2 2011. This quarter’s revenue number was up from £1.46 billion in the first quarter of this year.
The results are in stark contrast to what Samsung also reported today, with the electronics giant telling investors it expects to report a 79 per cent increase in year-on-year profits £2.01 billion to £3.8 billion for the second quarter.
HTC released its One S (pictured left) and X (pictured right) handsets in the UK at the beginning of April. This was followed by the release of the Samsung Galaxy S III at the end of May.