The HTC One. Image courtesy of HTC.
Taiwanese smartphone manufacturer HTC has predicted an 83 per cent drop in profits from last year for the second quarter of 2013, despite the launch of the HTC One phone.
Though HTC One sales helped the firm stage a slight recovery from the first quarter, revenue fell 23 per cent to NT$70.7 billion (US$2.3 billion), operating income 87 per cent to NT$1.05billion (US$30 million) and net income before tax to NT$1.52 billion ($50 million).
There were signs of improvement from the previous quarter, however, when HTC reported a record low quarterly profit following the delay of the launch of the HTC One.
Analyst firm Gartner place HTC as the world’s tenth biggest smartphone maker by shipments.