HTC releases unaudited report for Q2, revenue down by over a half
It has not been a very good quarter for HTC - in Europe, the financial crisis meant lower demand, while in the US the patent battle with Apple meant delayed shipments, both of which hurt HTC’s performance.
HTC has yet to release the full report, but the unaudited numbers(PDF) show that the company’s predictions from Q1 of revenue climbing back to 2011 levels did not come true.
The company’s revenue for Q2 was $3 billion and the net profit reached $247.7 million. That’s up quarter on quarter but down by over 50% compared to the net profit of $585.1 million in Q2 of 2011.
For the second and third months of Q2 (May and June) HTC’s sales were equal and reached $1 billion, but that’s down 33.4% compared to June of 2011.
HTC will be launching new devices in the second half of this year, but Peter Liao (an analyst at Nomura Securities) is skeptical about the company's prospects in Q3. High-end HTC phones are in for some heavy competition in the face of the Galaxy S III (Samsung is predicting strong sales for their flagship) and the new iPhone, which is coming later this year.
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