Apr
16
HTC Earnings in Q1 Dropped
- April 16th, 2009
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Announing decrease in the revenue generated for the first quarter of this year, the Taiwan smartphone maker HTC revealed that it has suffered a 30% drop in its earnings. The company, however, expressed hope that it will keep up the double digit growth this year and with all the necessary arrangements underway to launch new products, it hopes that the condition will improve.
Although maintaining its January revenue at around US$286 million amid the global financial turmoil, HTC, surprisingly, saw its February revenue plummet to an 18-month low of only US$283 million. HTC`s net profits for the first quarter hit only $148 million, down from $207 billion a year ago. Institutional investors indicated HTC is expected to enjoy a 10% quarterly growth in sales revenue to around US$1 billion in the second quarter, due mainly to upcoming launch of new smartphones, including the HTC Diamond, Pro 2 and HTC Magic series.
The Taiwanese phone maker HTC is the world’s fourth-largest smartphone vendor behind rivals Nokia, BlackBerry maker Research in Motion and iPhone maker Apple.
Although maintaining its January revenue at around US$286 million amid the global financial turmoil, HTC, surprisingly, saw its February revenue plummet to an 18-month low of only US$283 million. HTC`s net profits for the first quarter hit only $148 million, down from $207 billion a year ago. Institutional investors indicated HTC is expected to enjoy a 10% quarterly growth in sales revenue to around US$1 billion in the second quarter, due mainly to upcoming launch of new smartphones, including the HTC Diamond, Pro 2 and HTC Magic series.
The Taiwanese phone maker HTC is the world’s fourth-largest smartphone vendor behind rivals Nokia, BlackBerry maker Research in Motion and iPhone maker Apple.