Taiwan's HTC reports 83 percent drop in 2Q profit

Jul 30, 2013

Taiwan smartphone maker HTC Corp. reported an 83 percent drop in second quarter profit Tuesday, hit by intensifying competition in the smartphone market.

HTC's profit totaled 1.2 billion New Taiwan dollars ($40 million) on revenue of NT$70 billion in the three months through June.

The company predicted revenue to drop to between NT$50 billion and NT$60 billion in the third quarter as high-end smartphone sales appear to have reached their peak.

Rivals Apple Inc. and South Korea's Samsung Electronics Co. have felt similar pressure as the high-end handset boom gives way to growing demand for mid-range models.

HTC became the first maker of smartphones based on Google's Android software in 2008 and its sales then surged. But they began a sharp decline in the second half of 2011.

The company had hoped to win back some of its market with the launch of the "HTC One" series of phones, which offer users a better camera and music experience.

Recently, HTC has launched a market push for mid-range smartphone models, an area in which is expected to face stiff competition from China's ZTE Corp. and Huawei Technologies.

Explore further: Amazon surprises with $214 mln quarterly profit

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Smartphone maker HTC posts 58 percent profit drop

Aug 03, 2012

(AP) — Taiwan smartphone maker HTC Corp. reported Friday a 58 percent drop in second quarter profit year-on-year, its third consecutive quarterly decline as intensifying competition from Apple Inc. and Samsung Electronics ...

Taiwan's HTC reports record low net profit

Apr 08, 2013

Taiwan's smartphone maker HTC said Monday net profit slumped 98.1 percent in the three months to March compared to a year earlier, hitting a record low of Tw$85 million ($2.83 million).

Chipmaker TSMC posts 24 percent rise in 2Q profit

Jul 18, 2013

(AP)—Taiwan Semiconductor Manufacturing Co., the world's largest contract chip manufacturer, reported a 24 percent jump in second quarter profit Thursday, driven by sales growth in smartphones and tablet computers that ...

Recommended for you

Airbnb to expand tax collection efforts

3 hours ago

Online lodging operator Airbnb is expanding its efforts to collect local taxes, responding to complaints that it competes unfairly with the hotel sector.

Jay Z to acquire Wimp music service

5 hours ago

US rap star Jay Z will make a $56-million foray into the music streaming business by taking over the Norwegian service Wimp, its shareholders confirmed Friday.

How can Google snap its stock out of its stupor?

11 hours ago

Google has turned into a stock market laggard as the shift to mobile devices has lowered the Internet search leader's digital ad prices and the company's expensive investments in far-out technology has trimmed ...

Amazon surprises with profit despite fierce spending

22 hours ago

Amazon surprised the market Thursday with a quarterly profit far better than anticipated for the online giant known for pouring money into projects such as original video programs and delivery drones.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.