HTC posts record-low quarterly profit

  • HTC reported a record-low quarterly profit on Monday on the back of a delay in the launch of its 2013 flagship smartphone model, which will now be released at the same time as Samsung’s newest Galaxy.

    A camera shortage meant HTC only managed to introduce its latest HTC One phone in just three markets by the end of the first quarter instead of the planned 80.

    It does not expect to launch the model across Europe, North America and the Asia-Pacific region before the end of April.

    Meanwhile, Samsung has said its Galaxy S4 will be available in 155 countries by the end of the month.

    HTC unaudited net profit sat at $2.85 million in its January-March first quarter, compared with $33.33 million in the prior quarter and $363.33 million in the same period last year.

    The figure was the lowest since HTC began reporting quarterly profits in 2004.

    The Taiwanese smartphone maker was expected to post a net profit of $15.55 million.

    First-quarter revenue was $1.42 billion, T$42.8 billion, lower than the $1.66-$1.99 billion range that HTC had forecast in February.

    Revenue in the fourth quarter was nearly $2 billion.

    HTC was the world's tenth biggest smartphone maker by shipments in the fourth quarter, according to IT research firm Gartner.

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