Profits for the quarter were just $2.85 million, compared to $33 million last quarter and $345 million during the Q1 in 2012.
Revenue fell to $1.4 billion, down from $2 billion last quarter.
The news comes at a terrible time for HTC, which just had to delay their flagship device, the One. A shortage of ultrapixel cameras means the One has only been launched in three markets so far, compared to the 80 HTC wanted to have it in by the end of March. The company will now have to compete directly with Samsung's Galaxy S4 when it launches at the end of April in 155 nations.
HTC recently unveiled its First phone, the first device to include Facebook Home, a new user interface that tightly integrates Facebook and Instagram features.
Written by: Andre Yoskowitz @ 8 Apr 2013 19:33