It wasn’t too long ago that HTC admitted they were going about things the wrong way in the smartphone game, and it was even sooner that they did something about it. The Taiwanese company released its unaudited Q1 2012 earnings report today, and things just aren’t looking good.
The report shows that HTC took sharp hits in both revenue and net income compared to the same quarter last year. Their total revenue was down 35% from $3.5 billion in Q1 2011 to $2.3 billion last quarter.
More than that, profits were way down from Q1 2011 – by an alarming 70%. There were no losses to report, but they definitely didn’t have the huge gains that they’re used to.
It’s troubling for them to think that things could possibly get even worse as they transition their portfolio and strategy. The HTC One series was HTC’s “rebirth,” so to speak, as they sought to show people that they could return to their innovative ways of yesteryear.
Their strategy is to introduce less smartphones each year, which will allow them to give more attention to each individual smartphone. The end-result should be better quality and more focused marketing, and it looks like it is working.
The HTC One X released to rave reviews with many touting the powerful camera features, internal hardware and a toned down, revamped version of HTC Sense as killer features. The design of the phone also received high praise.
It remains to be seen whether or not things will improve much in Q2, but we’re willing to bet it’ll take more than a few quarters to see if HTC’s latest moves have been enough to steer the ship in the right direction. [HTC (PDF) via Next Web]
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