The delay in manufacturing the HTC One
has cost the company a significant amount of profit, according to reports based on unaudited results
released by the manufacturer. Results for the first quarter of 2013 shows HTC as having a net profit of $T85 million ($2.8 million), declining for a sixth quarter in a row
First quarter revenues fell by 37-percent year-on-year to T$42.8 billion ($1.4 billion) reports Bloomberg
, below analyst estimates of T$54.7 billion ($1.8 billion). HTC's share price has fallen 70 percent since its highest in 2011, with it declining 20-percent this year alone.
Analysts anticipated a much higher net profit than the $2.8 million earned, expecting around $20 million for the quarter. The HTC One launch saw the phone appearing in just three countries by the end of the reporting period, and so did not impact the results as much as it could have. The company is attempting to maximize the HTC One's impact by upping its marketing efforts
, including a 'Live Experience Tour'
in the US, among other projects.
With its release in the US, UK, Europe and other locations happening in the near future, the next quarterly results may see the company turn around the declining profit before it hits zero.