HTC announced its financial results for the third quarter of 2012 on Monday morning, revealing that revenue dropped to NT$70.2 billion (approx. $2.397 billion) during the three-month period from July to September. Net income lies at just NT$3.9 billion (approx. $133 million).

Those figures are significantly lower than those reported by HTC for the second quarter of 2012, when it saw NT$91.04 (approx. $3.1 billion) in revenue, and NT$7.4 billion (approx. $247 million) in net income. And they represent a massive 79% profit drop — one of the company's biggest ever.

In comparison with HTC's results from the third quarter or 2011, revenue is down NT$135.8 billion (approx. $4.54 billion), or 35%.

The Taiwanese smartphone vendor did amend its forecasts following that disappointing second quarter, expecting revenues between NT$70 billion (approx. $2.34 billion) and NT$80 billion (approx. $2.7 billion). It just about managed to achieve that low-end forecast.

HTC's biggest problem right now, of course, is the competition from the likes of Apple and Samsung. However, it does have some promising devices that could help turn things around.

The HTC 8X and 8S, which are powered by Windows Phone 8, are at the top of that list. They've been chosen by Microsoft as "signature" devices, so they'll feature in the company's upcoming Windows Phone 8 advertising campaigns. HTC also has the Android-powered One X+ coming soon, a much-improved version of its existing One X.

[Via: The Next Web]