Manufacturing News

HTC Net Profit Down 25.5% In Q4 2011

Taiwanese smartphone maker HTC has published its financial report for the fourth quarter of 2011, stating that its net profit decreased by 25.5% year-over-year during the reporting period.

This is reportedly the first time for HTC to see profit down over the last two years.

According to the report, due to the competition from Apple's iPhone and Samsung's Galaxy smartphones, HTC's net profit decreased by 25.5% year-over-year to NTD11.02 billion, which was about USD364.26 million, in the fourth quarter of 2011; and it was also lower than the expected NTD13.33 billion.

At the same time, HTC's operating revenue was NTD101.419 billion, which was about USD3.35 billion and a decrease of 2.49% compared with the same period of previous year. Though the company's performance in the fourth quarter did not achieve expectations, its net profit for the entire year of 2011 still saw 57% growth over 2010, reaching NTD62.06 billion.

On the same date, Samsung also released its performance results for the fourth quarter of 2011, stating that contributed by the sales growth of Galaxy smartphones, its operating profit growth saw a new height of 73% over previous year, reaching KRW5.2 trillion, which was about USD4.5 billion.

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