HTC Q4 profit falls 25.5%

Taiwanese smartphone maker HTC Corp’s net profit fell 25.5 per cent in the fourth quarter, lagging market expectations, as its models scrambled to compete with Apple Inc’s iPhones and Samsung’s

Galaxy range. The world’s No.4 smartphone maker’s unaudited net profit in the quarter was T$11.02 billion ($364.26 million), compared to T$14.80 billion a year earlier and T$18.68 billion in the previous quarter, it said on Friday.

A poll by Thomson Reuters I/B/E/S of 18 analysts had yielded a median forecast of a profit of T$13.33 billion.

Consolidated sales for December were T$26.36 billion, down 20.3 per cent from the same month a year earlier.

Net profit for the full year of 2011 was however up 57 per cent from 2010 to T$62.05 billion.

It did not give any details in a brief statement. The erstwhile investor darling shocked markets in November by slashing its fourth-quarter revenue guidance, sending its shares down 28 per cent in two weeks and 15 per cent to date.

On Friday ahead of the result announcement, HTC closed down 0.72 per cent at T$482.

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