HTC makes profit of just $43mn in March quarter
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HTC makes profit of just $43mn in March quarter

Last Updated: Tuesday, April 09, 2013, 15:49
 
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HTC makes profit of just $43mn in March quarter
London: Mobile maker HTC may become an acquisition target after it made an operating profit of just 43 million dollars in the quarter to March.

The firm’s revenues went down 37 percent year on year to 42.8 billion dollars as manufacturing problems hit its hopes of a comeback.

A shortage of cameras for its new flagship HTC One phone meant that by the end of the quarter it launched in only three countries, rather than the 80 it had aimed for.

It also means that during the current quarter it will be struggling for attention with Samsung's new Galaxy S4, due to go on sale in the next few weeks, the Guardian reports.

The results will put renewed pressure on chief executive Peter Chou, who reportedly told the company board that he would step down if the new phone is not a success.

According to the paper, some analysts think the company could become an acquisition target as its cashflow suffers and the market polarises towards expensive phones from Apple and Samsung, and cheaper Chinese ones.

The paper said that the quarterly figures fell short of HTC's own modest forecasts made in February, when it said it expected revenues of between 50 billion dollars and 60 billion dollars.

ANI




First Published: Tuesday, April 09, 2013, 15:49


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