HTC posts Q2 2012 financial results, profits tumble
While Samsung managed to rake in quite a lot of money during the year's second quarter, other major players on the smartphone market were not doing that well, it seems. And we are looking at you, HTC; you and your not-so-pretty Q2 financial report that was just released.
So, here are the most significant figures: HTC generated sales of $3.05 billion between April and June of 2012, which is way below the $4.32 billion worth of sales they made in Q2 of 2011. But more importantly, the company posted a Q2 2012 net profit of $248 million. That is 57% less than what HTC accumulated in Q2 of 2011. The drop in earnings does not actually come as a surprise as it lines up with HTC's earnings forecast.
Some say that these disappointing figures are partially because the HTC One lineup is not selling well in Europe. Even with the HTC One X flagship on the market, smartphone sales have not met the company's expectations. Besides, let us not forget that the HTC EVO 4G LTE was stuck at customs, which lead to a delay in its U.S. launch.
HTC has not yet commented on its Q2 financial results. The company's shares went down 5% on Friday closing at 322 Taiwanese dollars apiece.
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