HTC's Profits Sink Like the Titanic, Down 83 Percent in Q2 2013

Paul Lilly

How low can you go?

HTC was once a mighty vessel sailing the mobile seas, and like Leonardo DiCaprio in the movie Titanic, the company must have felt it was the king of the world. We all know how that movie ends, and just as the real Titantic was doomed to sink, things aren't looking so well for HTC. The Taiwanese phone maker saw its profits plummet 83 percent in the second quarter of 2013.

Its total revenues for the quarter reached NT$70.7 billion ($2.35 billion), resulting in profits of NT$1.25 billion ($41.63 million). On the plus side, HTC's profits in the second quarter trumped Q1, but they're down compared to the same quarter a year ago.

Like every other mobile player, HTC is having a bear of a time competing against Samsung in the Android space and Apple in the mobile space. That's in stark contrast to the early days of Android, of which HTC was a pioneering force. More recently, HTC said it would begin offering fewer handsets so that it can concentrate on a handful of quality devices rather than taking a shotgun approach.

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