HTC Suffers 30% Profit Decrease

HTC has suffered a financial hit as of late as their first quarter numbers for 2009 reflect. In fact, the company has noted that their profits went down by 30% since last year, making for a total of $358 million in lost profit.

HTC even fell short on the revenue side of things, making only $954 million when they had projected a revenue of $997 million. But it doesn't seem the stark economy had anything to do with it. Rather, the company is stating that a new product shipment that suffered a delay is the reason for the profit loss.

What that specific new product shipment could be is anyone's guess. However, we do know it was due this month and the biggest contender is the HTC Magic. It makes sense, since this device was due in April but has been pushed to May for its European release and U.S. debut on T-Mobile. The delay here is well-known: the device requires a Google Android update, which makes for a virtual keyboard on the phone.

[via Electronista]