HTC was once the life of the party in the Android camp. By jumping on the open source train early on, HTC rode off into the sunset in a position seemingly more lucrative than being in the business of printing money. And now? Well, for HTC's sake, let's hope the first quarter of 2012 isn't a sign of things to come. Amid increasing competition from Apple and Samsung, HTC on Tuesday reported a 70 percent decline in first quarter profit. For those of you keeping count, it's the second consecutive time HTC posted a sequential drop.
Revenue for the first quarter slipped to NT$67.79 billion (~US$2.3 billion), down more than a third -- 34.3 percent -- sequentially and 34.9 percent from one year ago. Time to hit the panic button? Not if you're HTC.
Looking ahead, HTC said it expects to fully recover and pull NT$105 billion (~$3.5 billion) in the second quarter of 2012, a bold prediction but one that isn't far off from projections by industry analysts. Whether or not HTC gets there, however, rests on the success of the HTC One, which company CEO Peter Chou is banking on being a fan favorite in the U.S. market.
Image Credit: HTC