HTC Posts 70 Percent Profit Drop

The AP:

Taiwan smartphone maker HTC Corp. reported a 70 percent drop in first quarter profit as it faces keener competition from Apple Inc. and Samsung Electronics Co. HTC said Tuesday that profit amounted to 4.5 billion New Taiwan dollars ($152 million) from revenue of NT$68 billion in the three months through March. Revenue was down 35 percent from a year earlier. […]

HTC chief executive Peter Chou said the company’s biggest challenge has come from Apple’s iPhone 4S launch that took up the lion’s share of leading U.S. mobile operators’ handset purchases.

Man, imagine how much trouble HTC would be in if the iPhone 4S weren’t such a disappointment.

★ Tuesday, 24 April 2012