HTC posts record-low quarterly profit after delayed launch of HTC One - Firstpost

Would you like to make Firstpost your default homepage?   Yes | No HTC Corp reported a record-low quarterly profit on Monday that missed analysts' estimates after the delayed launch of its 2013 flagship smartphone, the HTC One further undermined sales amid tough competition from Samsung Electronics and Apple. The Taiwanese smartphone maker said its unaudited net profit was T$85 million in its January-March first quarter, compared with T$1 billion in the prior quarter and T$10.9 billion in the same period last year. It was the lowest since HTC began reporting quarterly profits in 2004. HTC was expected to post a net profit of T$467.5 million, according to the average forecast of 18 analysts polled by Thomson Reuters.  HTC One in this file photo. Reuters First-quarter revenue was T$42.8 billion, lower than the T$50-60 billion range that HTC had forecast in February. Revenue in the fourth quarter was T$60 billion. HTC rolled out its latest smartphone, the HTC One, in just three countries last month, instead of in 80 countries as it had originally planned. The company said HTC One sales would not kick off before the end of April across Europe, North America and the Asia-Pacific region. HTC was the world's 10th-biggest smartphone maker by shipments in the fourth quarter, according to IT research firm Gartner, jostling in a crowded field behind the top-two heavyweights Samsung Electronics (005930.KS) and Apple (AAPL.O). Shares of HTC have lost more than half of their value in the past 12 months, underperforming a slight rise in Taiwan's main TAIEX index. On Monday, HTC shares closed down 2.2 percent before the earnings were released, compared with a 2.4 percent fall in the main index. Reuters Firstpost encourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted: Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures Please do not post comments that target a specific community, caste, nationality or religion. While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions. Comments will be moderated for abusive and offensive language. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGnbw1mnMJGapp9VRjxEltzBa6gBA&url=http://www.firstpost.com/tech/htc-posts-record-low-quarterly-profit-after-delayed-launch-of-htc-one-690319.html

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