HTC has continued to drop as it struggles to compete in a tight smartphone race. For the third quarter of this year, HTC profit dropped to an all-time low since 2006 as it fails to compete against Apple and Samsung. In 2010, HTC was the biggest Android smartphone manufacturer. However, since last year, HTC was slowly overtaken by Samsung.
What You Need To Know:
- HTC revealed that its third quarter profit falls 79% compared to the same quarter last year.
- HTC also posted total third quarter revenue of $2.39 billion, which is a 20% drop from $3.04 billion in the previous quarter. Last year, HTC earned $4.5 billion in revenue.
- The Taiwan-based company is slowly losing ground in the smartphone space. According to the IDC study, HTC placed fourth in the smartphone sector in the second quarter with 5.7% market share, down from 10.7% of last year. Samsung lead the race with 32.6%. Apple and Nokia follow with 16.9% and 6.6% respectively.
- HTC is eyeing for a strong finish in the fourth quarter of 2012. The company has recently revealed its Windows 8 phone and Android devices, which include the HTC One X+ and VX.
Sources:
HTC Profit Falls 79% Amid Competition
Wall Street Journal
HTC misses targets yet again
Android Authority
HTC Posts Record Profit Drop as Samsung, Apple Grab Sales
Bloomberg