HTC reports challenging Q4 as profits and sales slump

Taiwan’s HTC has reported a 91 per cent slump in its fourth-quarter profits of just T$1 billion (US$34 million). This is the fifth consecutive fall in its quarterly profits and the lowest figure recorded since 2006.

Revenue fell by 41 per cent to T$60 billion.

HTC’s smartphone market share dropped to four per cent in the third quarter of 2012 from 10.3 per cent a year earlier, according to figures from IDC. The market share for the fourth-quarter is still to be announced.

HTC has a new flagship smartphone due out this year which analysts expect will help the company recover somewhat, but it faces continuing competition from Samsung and Apple in its core markets.