HTC Q1 Net Profit Drops 91.5%

HTC

reported a 91.5% drop in its first-quarter net profit. HTC's quarterly unaudited net profit declined to 85 million New Taiwan dollars (US$2.83 million), versus NT$1 billion, in the year-ago period. Its revenue dropped 36.9% to NT$42.8 billion from NT$67.79 billion. The company in February expected revenue between NT$50 billion and NT$60 billion.