TAIPEI: HTC Corp reported a record-low quarterly profit on Monday that missed analysts' estimates after the delayed launch of its 2013 flagship smartphone model further undermined sales amid tough competition from Samsung Electronics and Apple.
The Taiwanese smartphone maker said its unaudited net profit was T$85 million ($2.85 million) in its January-March first quarter, compared with T$1 billion in the prior quarter and T$10.9 billion in the same period last year. It was the lowest since HTC began reporting quarterly profits in 2004.
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