HTC Profits Plunge 91 Per Cent

HTC’s net profit in Q4 2012 has plunged by 91 per cent on the same time last year. Strong sales from Samsung and Apple have squeezed the low-end Android manufacturer from net profit of $390m (£240m) in Q4 2011 to $34.48m (£21.2m) in 2012.

In the US alone, smartphone market penetration grew 6 per cent over the same period according to ComScore, and while Samsung and Apple increased market share, LG, Motorola and HTC all saw their share drop. The Taiwanese company’s share of handsets fell 0.4 per cent, to take 5.9 per cent of the market, despite the Android OS increasing its share by 1.1 per cent, to 53.7 per cent.

Still the fifth-largest smartphone maker in the world, this is its lowest profit recorded by the company since 2004.