Taiwanese smartphone vendor HTC has blamed a United States customs delay and disappointing sales in Europe for a 57.8% fall in quarterly net profit. The world’s fifth-largest smartphone maker saw a net profit of NT$7.4 billion (approx. $247.7 million) between April and June, down from NT$17.52 billion for the same period last year, according to figures announced today.
HTC had warned that these figures would be lower than previous targets, but analysts were expecting the company to hit around NT$8.25 in net profit. Although it didn’t reach those expectations, its net quarterly profits had increased over the NT$4.47 billion it saw between January and March.
During the last quarter, HTC saw TN$8.2 billion (approx. $275 million) in operating income, and TN$91 billion (approx. $3.05 billion) in gross revenue. The figures are in line with the latest revision the company made to its earnings forecast.