HTC July 2012 Earnings

HTC (2498) on Monday announced that revenue for the month of July fell by 45% year-over-year as sales of its new One series smartphones continued to sputter. The Taiwan-based smartphone maker’s profit plummeted nearly 60% in the second quarter this year, and HTC warned that its struggles will continue in the third quarter as Samsung’s (005930) Galaxy S III takes center stage among Android smartphones. In July 2012, HTC said that its revenue came in at NT$25 billion, or approximately $834 million, down from NT$45.11 billion in July last year. Through the first seven months of 2012, HTC’s revenue totals NT$183.9 billion compared with NT$273.7 billion during the same period in 2011. The company’s situation could worsen as competition from Samsung heats up and Apple (AAPL) prepares to launch its sixth iPhone in late September.

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