HTC Profits Drop By 79%

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An anonymous reader writes "HTC is the world's fifth largest phone maker, but it's starting to feel some serious pressure from giants like Samsung and Apple. HTC's third quarter net income dropped 79% from the previous quarter, and total revenues were down 48%. 'Sales of HTC's flagship One series, which debuted in February, are trailing off as Apple and Samsung spend four to six times more on marketing to ensure the iPhone 5 and the Galaxy SIII dominate the market, while strongly subsidizing their older models ... HTC's share of the global smartphone market by shipments fell to 5.8% in the second quarter from 10.7% a year earlier, according to Bloomberg. The company released its first Windows Phone 8 models in September, its most high-profile pre-Christmas launch, but Microsoft's operating system has yet to establish itself as a serious third player after Google's Android and Apple's iOS.'"

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