HTC sees revenue and profits fall in Q1

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HTC saw revenue and profits drop in the first quarter of 2013, but said it expects Q2 results to be better thanks to strong sales of its flagship smartphone, the HTC One

Manufacturer HTC saw revenues drop from NT$60 billion (£1.3 billion) at the end of last year to NT$42.8 billion (£932 million) in the first quarter of 2013.

Figures for the March quarter also show gross profits fell from NT$13.8 billion (£300 million) in Q4 of 2012 to NT$8.7 billion (£189 million).

Operating profit declined from NT$0.6 billion (£13 million) to NT$0.04 billion (£871,000) quarter-on-quarter.

The company said it expects revenue to rise to around NT$70 billion (£1.52 billion) in the second quarter of 2013, thanks to its flagship HTC One.

A statement on the results said the device had “received overwhelmingly positive reviews from experts, critics, media, and fans, full support from operators, and demand from consumers across the world since launch.”

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