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HTC Profits Tumble 30 Per Cent

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With Apple, RIM and Google results proving so positive it seemed having a smartphone focus was the way to ride through this (don't say the) 'R-word' but apparently not...

Announcing its Q1 earnings yesterday HTC has brought us (and Microsoft?) back down to earth with news that it is bucking the trend of bucking the trend (so to speak) having revealed some pretty poor results.

Compared to the same period last year HTC has announced profits are down 30 per cent from NT$6.94bn ($210m) to NT$4.89bn ($148m) with revenues also slipping to NT$ 31,590m - a 3.4 per cent year-on-year decline.

HTC execs made no comment on the release which is somewhat surprising as - while poor - the number did actually beat analysts' estimates. Tempering this however was news that it missed several product shipment dates during the quarter which were subsequently pushed back to this month.

On a lighter note HTC did maintain double digit growth is possible during 2009, a figure I'd suggest would be even higher if it would release more handsets with Android...

Link:
Press Release (PDF Warning)

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