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HTC pays price for One delays, reports worst quarterly profit so far in Q1 2013
Instead of reaping the rewards of putting out a lovely new flagship, HTC has just reported its lowest ever profit -- a mere $2.8 million in unaudited net income -- during the first fiscal quarter of this year. That compares to $173 million in the same quarter of last year, representing a pretty catastrophic fall of around 98 percent. Underlying revenue dropped by a third to $1.4 billion. The reason? The top-end smartphone on which the company's fortunes currently rest, the HTC One, effectively didn't exist during the period in question, because manufacturing delays prevented anyone from buying it. The handset only just became available to pre-order in the US and won't start shipping to customers until April 19th. At this rate, the HTC First -- the manufacturer's second big announcement of the year -- might actually deserve its name.
Filed under: Cellphones, Mobile
Original Link: http://www.engadget.com/2013/04/08/htc-financials-q1-2013/
Engadget
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