Smartphone vendor HTC, today announces unaudited consolidated results for 1Q 2013. According to the press release, total revenues were NT$42.8 billion, operating income was NT$43 million and net income after tax was NT$85 million ($2.85 million). Analyst were expecting earnings of NT$467.5 million, according to Reuters.
These figures represent 98 percent year-over-year fall in net profit, which was NT$10.9 billion in Q1 2012.
“As HTC failed to establish its brand image by selling its most important flagship phone on time, it’ll be very difficult to push on the mid- and low-end phones when HTC launches them in Q3-Q4,” said Dennis Chan, an analyst with Yuanta Securities in Taipei (via Reuters). “Sales in the second quarter will bounce, but they will lose momentum again in Q3-Q4.”
HTC is expected to see a boost in profit in the second Q2 2013 as a result of the launch of the their new flagship smartphone HTC One. The HTC One launch has been hit with delays, mainly attributed to component shortage.