Affected by the global financial crisis and the delayed launch of its new mobile phone products, the Taiwan-based smartphone maker HTC states that its net profit decreased by 30% year-on-year to USD146.7 million in the first quarter of 2009.
HTC's financial report shows by March 31, 2009, its net profit decreased from NTD6.94 billion in the previous year to NTD4.89 billion. During the same period, its revenue decreased from NTD32.7 billion to NTD31.59 billion, a year-on-year decrease of 3.4%.
The company says its revenue in the first quarter was only 96% of that it expected and the main reason for the failing to meet the goal was because the delayed launch of its new mobile phone products.
According to Hui-ming Cheng, CFO of HTC, affected by the global economic recession, the average prices of HTC' mobile phones may decrease by about 5% in 2009.