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Kind of sad for HTC, seeing it's earning drop quarter after quarter.  Taiwan's largest smartphone maker HTC, posted its lowest quarterly profit on record after the delay of its newest flagship phone caused revenue to miss the company's target.


The net income for HTC in the first quarter was just $2.8 million, a painful 98% drop compared to the year ago quarter. Still, any profit is better than a loss, so it's not all bad. Revenue for Q1 2013 was $1.4 billion, down 37% over the year ago quarter (which saw $470 million in net income).


HTC lost early momentum for its HTC One handset in February as a shortage of camera components forced it to delay shipments in key markets by as much as a month. Hopes for revenue rebound this quarter may be limited as the new device becomes widely available less than a month before Samsung's new Galaxy S4, which goes on sale in the U.S. on April 26.


Recently Facebook announced the Facebook Home device - the HTC First - which targets the social network's 1+ billion people with a Facebook-made launcher called Home.


Source: Bloomberg

 

Tags: htc results show 98% decline net profit 

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