HTC is paying the price for the delays in the delivery of its flagship Android smartphone, the HTC One. Its Q1 income of NT$85 million ($2.8 million -- a 98% drop from last quarter) has been the lowest in company's history, Bloomberg claims.
The results are even more disappointing when you consider the analysts' estimates, who had hoped for a NT$600 million ($20 million) profit.
While HTC One's delay likely isn't the only culprit for HTC's profit decline, the fact that it's hitting most countries in April after it was initially announced for mid-March surely didn't help the company's earnings.
HTC's results should pick up in the next quarter due to the arrival of HTC One, but Samsung's Galaxy S4 is hitting the stores shortly thereafter, and -- like its predecessor -- it could very well eclipse HTC's flagship.