Business

HTC quarterly profits plunge 25%

Models pose with HTC's new smartphone Raider 4G
Image caption HTC is the world's number four smartphone maker

Taiwanese smartphone maker HTC has reported a 25% fall in fourth-quarter profit, as its models struggled to compete with those of its rivals.

Net profit dropped to 11bn Taiwan dollars ($364m; £235m) in the three months to December, from 14.8bn dollars in the same period a year earlier.

Sales for December fell 20.3% from a year ago to 26.3bn Taiwan dollars.

In October the firm said it expected lower revenues in the fourth quarter due to "uncertainties from new models".

But its latest update also revealed that net profit for the whole of 2011 rose 57% to 62bn Taiwan dollars.

HTC is the world's number four smartphone maker, behind Samsung, Apple and Nokia.

Rival Samsung said on Friday that it expected operating profits in the fourth quarter to jump 73%, thanks largely to record smartphone sales.

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