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HTC reports 23% drop in sales during Q3

HTC, a leading smartphone manufacturer, yesterday reported third-quarter sales of NT$70.2 billion, a decline of 22.9 percent from the second quarter.

While the quarterly decline was significant, HTC did however hit its third-quarter sales target of between NT$70 billion and NT$80 billion, although the number was at the lower range of the estimate.

For the July-September period, the firm had operating profit of NT$4.9 billion, pretax profit of NT$4 billion, and net profit of NT$3.9 billion. With the firm's total outstanding shares of 831.227 million, HTC had earnings per share of NT$4.7 for the third quarter, a decline from NT$8.9 for the second and establishing the prospect HTC will have a slow second half.

For September, the firm had consolidated sales of NT$21.2 billion, a decline of 11.6 percent from August.

According to analysts, sales of the HTC J smartphone were strong yet were not able to make up for the revenue shortfall from the HTC One X. Meanwhile, the Desire X hasn't fully penetrated the market. All these factors contributed to the sales decline in the third quarter.

While shipments in the United States and Europe dropped, stronger sales in China are expected to make up for the decline, experts said, adding operating results may improve starting in the second quarter of 2013.

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