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HTC Profits Slump in Q1 2013

by Todd Haselton | May 2, 2013May 2, 2013 9:30 am PST

HTC One Review - Hardware - Rear Camera

HTC reported its first quarter 2013 earnings on Thursday. The company noted revenue of $42.8 billion New Taiwan (NT) dollars (approx. $1.45 billion USD), a net profit of NT$85 million (approx. $2.88 million USD) and earnings per share of NT$0.10. That might not sound too bad on paper but the company reported a profit of NT$4.47 billion (approx. $151 million USD) during the first quarter of 2012.

HTC’s placing big bets on its brand new flagship smartphone, the HTC One, which recently made its global debut. The company’s CEO Peter Chou hopes that the One can help stir up additional profits and swing the company into positive growth moving into the second half of this year. Part of that will require extensive marketing and HTC is already beefing up its campaigns behind the One.

“This was a pivotal quarter for HTC,” said Peter Chou, CEO of HTC. “In February our teams set a new standard for smartphones, launching the new HTC One. The reviews of fans and critics alike have been overwhelmingly positive and we look forward to delivering on the promise of this device.”

HTC said it expects is second quarter revenue to fall in around NT$70 billion.


Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...