HTC's Q1 earnings fall 30 percent

HTC’s name may have humble beginnings, but it has blossomed to a powerhouse name that is renowned worldwide. They’ve seen a lot of growth with the help of their beautifully engineered mobile phones. But even during a dismal economy, they too are prone to what everyone is experiencing. In their most recent quarterly earnings report, the Taiwanese company made a net profit of NT$4.89 billion ($148 million) during the first quarter ending March 31.  Although they did post a profit, it was actually down 30 percent when compared to the NT$6.94 billion ($210 million) profit they made the year before. The company forecasted to make total revenues of NT$33 billion ($997 million) for the first quarter. Instead, revenue came in at NT$31.59 billion ($954 million) which was down from the previous year’s NT$32.70 billion ($988 million). HTC blames the missed expectations on delays for product shipments that were pushed to April. We’ve already started hearing rumors of many HTC phones expected to launch relatively soon which will hopefully boost sales for them.

via mocoNews