HTC Earns Lowest Net Income in Eight Years

HTC posted near-disastrous Q4 2012 results, despite it being a heavy shopping season in key mature markets. The Taoyuan, Taiwan-based smartphone maker bean-counted a net-income of just 1 billion NTD (US $37 million) in the quarter, which is a fraction of the 10.9 billion NTD it posted last year, while still being higher than market analysts' expectations of the company netting no more than 768 million NTD (on average of 20 estimates).

Punters at Taiwanese stock exchanges remain optimistic about the company. "There were no strong products for HTC in the fourth quarter, so it will be the bottom of their sales and earnings," Richard Ko, an analyst at KGI Securities Co. in Taipei, which upgraded the stock to "outperform" from "underperform," said before the announcement. "New products such as Butterfly should start to have an effect on their results this quarter," he added.