HTC Profits Fall 79 Per Cent

Taiwanese manufacturer HTC has reported its results for Q3, 2012 – and has seen profits fall 79 per cent year-on-year. Its profits for the quarter were 4.9bn New Taiwan Dollars (NT$, equivalent to £104m), compared to NT$18.64bn recorded last year.

Total revenues for the quarter were NT$70.2bn, narrowly meeting HTCs predictions of NT$70-80bn, but falling 22.9 per cent from NT$91bn in Q2.

Samsung, meanwhile, has forecast profits of $7.3bn for the quarter, nearly double compared to a year earlier.