HTC Reports Dire Q2 2012: Profit Down 57% Versus 2011

HTC's financial results for Q2 2012 are out, and it's undoubtedly been another dire quarter for the company with a slump to $NT$7.4bn (US$248m) in net profit. That's down in excess of 57-percent year-on-year, though better than HTC's appalling Q1 2012 figures where the company saw net income of just NT$5.1bn ($173m).

Total revenues for the three month period of April to June 2012 amounted to NT$91.0bn ($3.05bn) while unaudited operating income was NT$8.2 billion ($274m). Pre-tax net income was NT$8.9 billion, and HTC says overall earnings per share come to NT$8.90 based on 831,227 thousand weighted average number of shares.

HTC has not had an easy time of 2012. The company has faced a strong challenge in the European smartphone market from the Samsung Galaxy S III, though its own HTC One X was well received by reviewers, and it still struggles to find a place in the growing tablet market.

Meanwhile, HTC has come under fire in the US from Apple, with the Cupertino company managing to secure a temporary sales ban preventing the One X and EVO 4G LTE from being brought into the country. That ban was only lifted after HTC tweaked the relevant software to bypass Apple's patented technology, with sales gradually resuming in May.

Last quarter, HTC described its previously sluggish performance as a side-effect of a "rebuilding period" in which it readied its One Series line-up. The company is yet to comment officially on the Q2 results.