HTC profits way down amid weak demand for One range

Earnings down a whopping 57 per cent as HTC struggles in Europe and US

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HTC's recent struggles have continued with its latest quarterly report showing huge downturns in year-on-year revenues and profits.

The Taiwanese manufacturer and dominant company of the early Android era had hoped to bounce back from a disappointing 2011 with a new streamlined range of smartphones this year.

However it appears the launch of the HTC One series has failed to do the trick as the company struggles to re-engage with users in Europe and the US.

Apple injunctions did delay the launch of the HTC One X and the Evo 4G phones in the US, which may help to explain missed expectations.

Ups and downs, but mainly downs

The black and white of it is as such. Profits are down 57.8 percent from $585.95 million (£378m) to $247.5 million (£160m) compared to Q2 of 2011.

However, the company will a little take comfort as that figure is at least up $149.5 million (£96.5m) from a bleak first quarter of this year.

The company had projected revenues of $3.5 billion, but missed out on that figure by a considerable margin, posting income of $3.04 billion.

The HTC One series of phones have enjoyed critical success, especially the top-of-the-range HTC One X device.

However, the company's status as the go-to Android manufacturer has been well and truly trumped by Samsung, which continues to go from strength to strength.

Via: The Next Web