HTC sees sharp decline in Q1 revenue, profit

HTC on Friday reported unaudited earnings for the first quarter, revealing an extremely rocky start to the new year. The company warned that its first quarter results would see decline as the Taiwan-based vendor prepared to launch its new flagship smartphones, and preliminary numbers are in line with HTC’s earlier forecast. Revenue of NT$67.8 billion in the first quarter is down 35% from the same period last year, and HTC posted an after-tax profit of just NT$4.7 billion, down 70% year-on-year. HTC hopes business will pick up significantly as its new flagship smartphones, the One X and One S, begin to launch in various regions abroad. In the United States, the One X will launch on AT&T this month and before the end of June on Sprint as the HTC EVO 4G LTE. The HTC One S will be released in April on T-Mobile.

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