HTC’s Profits Drop 70%, Apple Blamed

HTC’s Profits Drop 70%, Apple Blamed

HTC’s year on year profits were down a stunning 70 per cent, and if you’re the type that reads the financial pages, that can’t be good. From a gadget perspective, HTC’s been quite clear about who it blames: Apple.

Specifically, a Reuters article quotes HTC chief executive officer Peter Chou as stating that its declining sales, especially in the US were to do with customers opting to pick up iPhones rather than Desire or Sensation models. It quotes Chou as stating that

“A major challenge we faced last year was the big drop in sales in the U.S. because of competition from the iPhone 4S.”

Still, despite increasing competition not only from Apple but also Samsung, Chou remains optimistic about the new focus on phones such as the HTC One X:

“I feel that HTC is being reborn this year, in terms of product strategy and execution of global sales and marketing. We are a new HTC; HTC One will help us to reach this goal.”

[Reuters via AppleInsider]