HTC has released its latest fiscal results for Q3 2012, which show a big drop in profits to the tune of 79 per cent.
The mobile vendor has been struggling to keep its position in the market after the success of the HTC Desire smartphone, but clearly, the HTC One X – its latest flagship – hasn’t managed to pull things back in the face of heated competition in the Android arena.
HTC reported a revenue of £1.5 billion for the quarter, which sounds pretty healthy, but was almost 50 per cent down on Q3 2011, and also down on the previous quarter this year, where the company raked in almost £1.9 billion.
Net profits were down 79 per cent, and worse still, the company dipped below analyst expectations this quarter, the Inquirer notes.
HTC has its One X+ coming out soon, a revamped version of the current flagship, and the firm also has Windows Phone 8 handsets on the boil. But it’s going to need to pull something stronger out of the hat for Android, if it wants to start to pull back its profitability.