HTC’s fortunes aren’t going so well. At the start of the year, the company announced a 22 per cent decline in operating income, year-on-year. Today, it’s had the misfortune to announce that its second quarter net profits for 2012 are down a hideous 57 per cent compared to the year before.
That’s a drop in net profit of more than £160 million. HTC is pointing to problems with US imports and weaker-than-expected European sales to explain it away. But are we in fact just seeing the first signs of the Taiwanese company’s slow decline? Is HTC the next RIM? [HTC via Reuters]