HTC Friday revealed a sharp drop in profits for the fourth quarter, down 26% from the prior year. This is the first time in two years that the Taiwanese company has seen a drop in year-over-year results. HTC reported net income in the quarter of $364 million, down from $489.5 million in the year-ago period and $617 million in the third quarter. The company also reported that sales in December dropped 20.3 percent to $872 million, echoing a similarly-sized drop in November sales.
As HTC fell, Samsung reported a 73% spike in profits, up to $4.5 billion. The preliminary results come as Samsung is expected to ship 35 million smartphones in the last quarter of 2011, a 25% jump over Q3.
Source: BGR
Mickey Papillon
Joey Koppes
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