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HTC profits fall 98%, but CEO Chou sees positives in Q1 performance

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HTC-One-review-13.JPGHTC have posted their earning for the first quarter of 2013, and they show the company to still be struggling.

HTC posted quarterly revenue of NT$42.8 billion (around £930 million), and a gross margin of 20.3%, with the operating margin sitting at 0.1%.

Net profit sits at NT$85 million (£1.8 million) - that's down a staggering 98% from NT$4.5 billion ($152 million) a year ago, despite the rave reviews the company's new HTC One flagship smartphone is receiving.

"This was a pivotal quarter for HTC," said CEO Peter Chou, looking for the silver lining on what's becoming a very dark cloud indeed.

"In February our teams set a new standard for smartphones, launching the new HTC One. The reviews of fans and critics alike have been overwhelmingly positive and we look forward to delivering on the promise of this device."

The HTC One is estimated to have sold 750,000 units since launching in April, despite supply delays in major territories such as the US, with the company expecting to sell more than three times that amount in the second quarter. Ten million HTC One handsets are expected to be sold by the end of 2013, a figure that pales in comparison to 60 million estimated sales of the Samsung Galaxy S4 before the end of the year.

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