Taiwan’s HTC Reports 83% Drop in Q2 Profit

HTC-Store-Tsim-Sha-Tsui-21

Taiwan smartphone maker HTC Corp. reported an 83 percent drop in second quarter profit amid intensifying competition in the smartphone market.

HTC said Tuesday its profit totaled 1.2 billion New Taiwan dollars ($40 million) on revenues of NT$70 billion in the three months through June.

The company predicts 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.

Tagged:
About the Author

News content on AppleMagazine.com is produced by our editorial team and complements more in-depth editorials which youโ€™ll find as part of our weekly publication. AppleMagazine.com provides a comprehensive daily reading experience, offering a wide view of the consumer technology landscape to ensure you're always in the know. Check back every weekday for more.

Editorial Team | Masthead โ€“ AppleMagazine Digital Publication