HTC Corp reported a record-low quarterly profit on Monday that missed
analysts' estimates after the delayed launch of its 2013 flagship
smartphone model 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 I/B/E/S.
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.
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.
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 and Apple.
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.
© Thomson Reuters 2013
HTC One: First look