HTC Q2 profits fall 83 pc despite higher revenues

The Taiwanese manufacturer achieved its revenue forecast of NT$70 billion (£1.52 billion)

HTC has reported revenues of NT$70.7 billion (£1.6 billion) for the second quarter of 2013, up from NT$42.8 billion (£932 million) in the first three months of the year.

Revenue slightly exceeded the Taiwanese manufacturer’s estimates for the quarter of NT$70 billion (£1.52 billion).

However, profits fell from NT$7.40 billion in Q2 of 2012 to NT$1.25 billion (£27 million) – a year-on-year decline of 83 per cent. Analysts had predicted profits of up to £47 million.

Monthly figures show sales fell 24 per cent in June to NT$22 billion (£49 million) after hitting NT$29 billion (£65 million) in May.

The manufacturer’s flagship HTC One smartphone has sold five million units.