HTC has released their Q1 fiscal year financial figures Friday and it wasn’t a pretty picture. The results announced Friday morning in Taiwan are the lowest they’ve seen since they rocketed to become a top 3 Android OEM two years ago.
Overall HTC reported profits were down 70% to roughly $148 million dollars while sales were down 35%. HTC was already planning for a rough quarter and announced earlier this year that they were going to focus on higher end phones and quality over quantity.
HTC also put it’s best marketing foot forward with several consumer facing advertising campaigns to support their HTC One line which started shipping this week in other parts of the world. HTC announced the follow up to the highly successful HTC Evo 4G, the EVO 4G LTE on Sprint at a press event earlier this week in New York City.
“We simply dropped the ball on products in the fourth quarter,” said Yung said during the Apr. 6 conference call, while noting the Rezound and Vivid handsets did not meet the company’s expectations.