HTC One may be loved by all, but Q2 finances still below expectations
HTC is still performing worse than expected, despite the HTC One being loved almost universally. It has released its unaudited financial results for Q2 2013 and profits are still dramatically lower year-on-year. They are almost half analysts' expectations, too.
Market analysts expected HTC to post profits of 2 billion Taiwan new dollars (£44.50 million), but in reality, the posted results reveal that the company made just TN$1.25 billion. And while the profits exceeded those for the first quarter of 2013, they are significantly lower year-on-year. In Q2 2012, HTC posted profits of TN$7.40 billion.
It also had a poor June. Revenues for the month were down 23.88 per cent on May, 26.43 per cent on those for June 2012.
The company has changed direction of late, with management restructuring and reports that it wishes to expand its more successful brand lines, such as the HTC One. But it would have hoped that sales of its flagship Android handset could match its critical success and hold the fort in the meantime. From these figures, direct competition from the Samsung Galaxy S4 and other devices may be putting a spanner in the works.
READ: HTC One review