HTC Reports $2.397 Billion In Q3 Revenues
HTC has released their numbers for Q3 of this year. The company has reported revenues of $2.397 billion for a three month period. Revenue is down from a little over $3 billion in Q2. Net income after tax reached around $247 million. HTC’s revenues are down from $4.54 billion in October 2011, which is a drop of 35% over the 12 month period. HTC’s saw a 79% net profit drop year-over-year.
HTC changed their forecasts to be revenues at between $2.34 billion and $2.7 billion. At the lower end, HTC is expecting to see around a 22% drop. HTC is struggling to compete against Samsung and Apple.
HTC is working closely with Microsoft to release a new line of handsets called the HTC 8X and the HTC 8S powered by Windows Phone. HTC believes that they are well positioned for growth in China for future sales.
[TNW]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry