HTC's profits dropped 90 per cent in Q4 2012 compared to the same time a year earlier, according to the Taiwanese manufacturer’s unaudited results for the quarter. The company made just NT$600m (£12m) on NT$60bn revenues, which were also down by 40 per cent.
Despite the launch of a new 5" smartphone to compete with the Samsung Galaxy Note promised later this month, Q1 2013 could be even more disappointing, with another 17 per cent fall in revenues forecast. This will see HTC at its smallest since 2010.
Along with Samsung and Apple, HTC and Nokia were the only other manufacturers to make a profit last year.