HTC officially in murky water after 60 per cent revenue drop
HTC’s October financials have revealed a 60 per cent drop in revenue from the same period in 2011. Can Windows Phone 8 turn things around?
HTC, despite some excellent releases this year, seems to be having a tough time shifting its smartphones. Revenues for October 2012 were down 60 per cent compared to figures from the same period in 2011.
Once the golden child of Android, HTC has gradually been reduced to bit-part player in the space following the unstoppable rise of Samsung and its fleet of Galaxy-brand smartphones and tablets.
HTC’s unaudited report for October 2012 confirmed revenues of £368 million, down 60 per cent from the same period last year when the company turned over £938 million.
HTC has yet to comment on what’s at play here but we’re guessing a lot of what’s happened to its once-thriving Android handset business has to do with Samsung, which now dominates the entire mobile space across the board.
That’s not to say HTC has lost its touch. It hasn’t – just look at the company’s 2012 catalogue of devices, which includes the One X, One S, One XL, One X+, and the upcoming HTC 8X and HTC 8S, which will carry Microsoft’s Windows Phone 8 OS.
From here on out it’s unclear what more HTC could actually do to turn things around.
Many hope that it’ll secure some kind of windfall from the release of its excellent Windows Phone 8 devices, but with Microsoft’s new platform still being something of a none entity in the space at large it’s difficult to put much stock in this assertion.