Things Grow Bleaker for HTC; Earnings Nosedive 79% in Q3 of 2012

[dgstorm]

It seems like poor HTC is having trouble pulling themselves out of this tail-spin they are in. Their new earnings report just came out and they took another huge hit for another quarter. Their earnings dropped 79% in Q3 of this year, and their overall revenue was down as well. Here's a quote with more details,

The Wall Street Journal reports that the Taiwanese electronics manufacturer saw its profits decline 79% year-over-year as it reported “its lowest quarterly profit since 2006 as it continued to lose market share to its competitors.” HTC’s revenues in the third quarter of 2012 also fell by 48% year-over-year as the company has been increasingly overshadowed by rival Samsung (005930), which last week reported a record $7.3 billion profit in Q3 2012.

While this is definitely awful news, it's still to early to count HTC out. All it will take is one good hit device to help make them competitive again. There are many of us rooting for that potentiality.

Source: HTCOneForum via BGR

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