HTC announces rough Q2 2012 financial earnings, expects lower results for Q3

Jake Smith | Aug 3 2012 - 4:50 am PT

After releasing its unaudited results just over a week ago, HTC is out this morning with audited Q2 2012 financial earnings. The Taiwan-based smartphone manufacturer posted a 58 percent year-over-year profit loss for the quarter at roughly $248 million USD, while revenues for the company amounted to roughly $3.04 billion USD. Furthermore, HTC posted its outlook for Q3. It said revenue would be 41- to 48 percent lower than the year-over-year quarter.

HTC has been in a fight with both Apple and Samsung for market share over the last few years. According to numbers released earlier this week by research firm ComScore, HTC is No. 5 in market share in the U.S.— behind Motorola. Despite the HTC One series being considered the best smartphones on the market at one point, sales do not look to be groundbreaking for the company.

Last month, HTC announced that it was selling its 50.1-percent stake in the company Beats. According to several reports, HTC was not meeting Beats’ financial obligations, despite the audio’s brand being embedded in numerous smartphones released (including the One series). This year looks to be a pretty rough for Peter Chou and his team.

[AP]