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HTC Profits Fall Nearly 58% On U.S. Customs Ban, Weak Sales

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HTC has just reported its second quarter finances, and they’re terrible: Profits slipped 57.8% on the same period last year. In fact HTC reported that consolidated sales for June were down $30 billion on the same period last year, 33.4%, and flat from May. The poor performance that lead to an equivalent quarterly profit of just $248 million is being blamed not only on the U.S. customs hold on HTC smartphone imports–a case HTC lost against Apple–but also on weak smartphone sales in Europe, which is a far trickier problem for the Taiwanese firm. HTC has been consolidating its product releases to concentrate on fewer, better-branded handsets and there have been recent rumors it’s interested in making its own smartphone processors with ST-Ericsson in a further attempt to emulate Apple strategy.

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I'm covering the science/tech/generally-exciting-and-innovative beat for Fast Company. Follow me on Twitter, or Google+ and you'll hear tons of interesting stuff, I promise. I've also got a PhD, and worked in such roles as professional scientist and theater technician...thankfully avoiding jobs like bodyguard and chicken shed-cleaner (bonus points if you get that reference!)

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