HTC One late release hits company's Q1 fortunes hard

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HTC-One-review-08.JPGWe may have christened it the best Android phone that money can buy in our full review, but the late release of the HTC One smartphone has still lead to troubling financial postings for the smartphone company.

Revealing its first financial results for 2013, the company have posted their lowest ever profits for the period, with net income down a monumental 98%.

Much of the blame lies with the late release of the flagship handset, hitting UK stores two weeks late and still missing from US shelves and other key markets. With a timely release of the HTC One, analysts had estimated HTC’s first quarter net income to have been around NT$600 million (£13 million), but the delays lead to a posting of just NT85 million (£1.84 million).

With the phone now hitting stores, it’s possible that HTC’s fortunes could bounce back for the second quarter, but again they face difficulties. Despite looking to be the superior phone, HTC’s One now has to face the might of the Samsung Galaxy S4, a brand synonymous with Android and a go-to product for many looking for a new top-end smartphone. HTC have also lost the power of early hype and buzz surrounding the device; despite glowing reviews, the tech world moves quickly, and those holding out for the HTC One may start looking further afield for their new handset.

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Gerald Lynch