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HTC Releases October Financial Results – More Bad News

November 6, 2012 - Written By Kody Frazier

In early October HTC released their third-quarter financial statement, pushing the struggling mobile technology companies monetary problems into the light, and leading many investors to question the solidity of the company’s future. HTC has seen a string of bad financial and sales reports over the last year, and with today’s release of the unaudited October 2012 numbers the situation does not appear to be improving.

For the past year HTC has seen revenues fall by 48-percent, primarily due to the strong competition from companies like Apple and Samsung. The company has produced several critically acclaimed devices in their latest generation, but none have seen financial success like the Samsung Galaxy S3, their primary competitor in the Android market.

October of 2012 sales figures show an even greater drop, year-over-year HTC saw a decline of 60-percent for the month. During October HTC brought in $588 million (NT $17.2 billion) versus the $1.5 billion (NT $44.114 billion) they brought through the same time period last year. In Q2 of 2012 HTC brought in $247 million (NT $7.40 billion), then saw a slide down to $133 million (NT $3.9 billion) for Q3.

HTC is betting heavily on their next generation of Android and Windows 8 phones. The HTC DLX, now the HTC Droid DNA, has garnered a considerable amount of speculation and press coverage, despite the lack of an official announcement from the company. The device has been spotted in the wild with Verizon branding, but neither HTC nor Verizon has released a statement regarding the upcoming device. HTC is hoping that their development of the Windows Phone 8 will result in significant growth as well.