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HTC Q3 profits plunge 79%
- Taiwan: Wednesday, October 10 - 2012 at 02:39
Taiwan-based handset maker HTC has reported a 79% fall in third-quarter profits and a 48% drop in revenue, as rivals Apple and Samsung Electronics gain ground in the smartphone market. HTC, which said its net income dropped to $133m, reported $2.3bn in revenue. The company also saw its operating income decline 76% to $167m. Last August, HTC chief executive, Peter Chou said in an email to employees that the company lacked a "sense of urgency" necessary to combat increasing competition from Samsung and Apple.
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