Taiwan-based HTC (2498) posted third-quarter earnings on Friday that show a continued decline for the struggling smartphone maker. After a record run in mid-2011 came to an abrupt end when Apple (AAPL) launched the iPhone 4S, the company has struggled to compete in a market dominated by Apple’s iPhone and Samsung’s (005930) numerous Android-powered Galaxy smartphones. In the third quarter, HTC’s net profit tumbled 79% to $133 million, making Q3 its least profitable quarter in six years. Revenue dropped 48% year-over-year to $2.4 billion. HTC has at least one flagship device launching in the U.S. ahead of the holidays, however it will be going up against the likes of Apple’s iPhone 5 and Samsung’s Galaxy S III and Galaxy Note II smartphones.
HTC profit tumbles 79% in Q3 as struggles continue
Published Oct 26th, 2012 10:22PM EDT
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Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
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