HTC reports dismal Q3 profits as Samsung beats out Apple in sales

Down 79 percent from same time last year

HTC Windows Phone 8X

Rough and tumble HTC, the Taiwanese company banking on phones like the Windows Phone 8X and recently announced J Butterfly to push it forward, announced its third quarter financials Friday.

The company reports a net profit of about $133 million (£82.6, AUD$128.5), down 79 percent from $639 million (around UK£397, AUD$617) during the same period one year ago.

Revenue stood at $2.4 billion (UK£1.49, AUD$2.31) last quarter, down from $4.64 billion (UK£2.88, AUD$4.48) last year, or a 48 percent drop.

Moving into the fourth quarter, HTC expects revenue to fall to around $2.05 billion (UK£1.27, AUD$1.98) as it struggles with an operating margine of one percent.

That leaves the firm with a pre-tax income of slightly over $20 million (UK£1.24, AUD$19.3) for Q4.

Not in Nokia's shoes

Despite the tough figures coming out of Taiwan, HTC could at least pat itself on the back for earning an IDC rank as one of the top five smartphone vendors last quarter. IDC is a market intelligence firm.

HTC, along with Samsung (No.1), Apple, RIM and ZTE all made the cut as the largest smartphone manufacturers. Nokia, on the other hand, didn't.

The Finnish company fell from No. 3 during the second quarter to not even making the top five.

Samsung claimed 31.1 percent of the market, followed by Apple at 15 percent (up from 13.8 percent a year ago).

It beat out Apple by selling 56.3 million smartphones around the world, whereas Cupertino almost hit 27 million.

RIM took 4.3 percent, a drop from 9.6 percent during the same period last year, while ZTE nabbed 4.2 percent.

HTC squeaked by with 4 percent.

Nokia also has Windows Phone 8 devices dropping on the market soon, with most eyes centered on the Lumia 920 to lead the charge.

Microsoft has offered its support for both HTC and Nokia, including both firms on invites to its WP8 kickoff event Monday.

Though both are getting some strong Washington backing, the two firms seemed poised to fight for market scraps.

Via The Verge, AllThingsD