HTC reports weak Q3 results as revenue and profits fall

Tags: HTC

HTC was once on its way to the top of the smartphone world, but it's in a bit of a slump lately. The results from the preliminary reportwere confirmed in the new report and the outlook for the final quarter of this year isn't looking too good either.

The company saw a revenue of $2.4 billion in Q3 of this year, down from $4.54 billion in the same quarter last year. Net profits (predictably) are down too - $133 million, down from $625 million. The gross margin was 25% and operating margin was 7%.

HTC continued to do well in China and introduced the HTC J Butterfly in Japan, an Android smartphone with a 5" 1080p screen. HTC is also waiting on the launch of its Windows Phone 8 handsets (the OS launches next Monday).

Even so, the company is expecting revenues in Q4 to fall to $2 billion with both gross profit margin and operating margin falling, to 23% and 1% respectively. And that's the holiday quarter.

Source (PDF)