Manufacturer’s delayed launch of the One handset blamed for 98 per cent decline in profits
Manufacturer HTC has posted its lowest Q1 profits since it started recording quarterly figures in 2004.
The firm posted post-tax figures of NT$85 million (£1.85m) for the quarter upto the end of March, 98 per cent down on its figure from last year and well below expectations, according to analysts in its home country.
Sequentially, its figures were down from NT$1bn (£21m) and NT$4.4bn (£96m) on the same period last year.
Analysts in the firm’s home country of Taiwan have blamed the fall in profits on the delayed launch of its new HTC One handset, which is still only available in ‘limited markets’ following difficulties in the production of the handset’s camera.
The One was released into the UK market on March 29, two weeks later than originally announced.