Today HTC announced its financial result for Q1, 2013 and reported that its profit fell a staggering 98% as opposed to the same time last year. HTC hasn’t posted such bad profit figures since 2004. In the last quarter, HTC’s profits were only $2.85 million as opposed to $152 million last year. Revenue for the first quarter also took a hit, dipping to just about $1.45 billion. HTC kept quiet on the number of devices it was able to sell in Q1, 2013 and precisely what caused such a big decline in its profits.
One of the reasons being cited for this is the company’s current flagship smartphone being delayed for almost two months. The HTC One was supposed to be released by March in 80 countries, but that did not happen. The delay now puts it neck and neck against Samsung Galaxy S4, which is certainly a worthy rival. Though HTC CEO is confident that the numbers will bounce back up by as much as 60% next quarter on the back of strong HTC One sales. The HTC One has been praised by many critics in reviews and it certainly seems like this device will perform well in the market. Only time will tell just how successful it is really going to be.