HTC has claimed in a post its 58 percent decrease in profits as cunning competitor Samsung continues to grow on top.
Following the report of its tough competitor Samsung on a 5.9 billion USD quarterly operating profit during the second quarter with shares constantly progressing in the mobile market, the Taiwanese manufacturer announced its drop in sales. It tallied a 3.04 billion USD worth of revenue with a quarterly profit of 247.7 million USD, which is 57.8 percent lower from the previous year.
The company has blamed its fall, which was more than its expectations, to its ongoing conflict with Apple, who allegedly reported a patent violation against the company’s HTC One X that resulted to a U.S. Customs hold and had prevented its devices from penetrating the European market. To make things worse, the launch of the Samsung Galaxy S3 and Apple iPhone placed the company in boiling water with its struggle to win the tough competition. This made its projected plentiful second quarter revenues of 3.56 billion USD into a waste.
However, HTC still has high hopes on recovering its share in the mobile market and predicting a return on its second quarter financials with the launch of its flagship HTC One series.