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"Taiwanese smartphone maker HTC has released its fourth-quarter financials, posting its first quarterly profit drop in two years as it lost ground on rivals Apple and Samsung in the smartphone market.\r\n\r\nThe report, which was released on the company's Investor website this morning, shows that fourth-quarter net income dropped\u00A026% to NT$11 billion ($364 million) from NT$14.8 billion a year previous. he company\u2019s revenue fell to NT$101.4 billion ($3.35 billion), a 2.5% decline on its previous year's figure.\r\n\r\nThis was caused by a drop in smartphone shipments, which declined by more than 3 million units to account for 10 million units in the past quarter. The Taiwanese smartphone maker sold 13.2 million smartphones in its third quarter.\r\n\r\nHTC amended its forecasts in the fourth quarter, predicting its Q4 revenue would be the same as it was in 2010, reaching around\u00A0$3.4 billion. It previously issued guidance that it would see sales upwards of $4 billion.\r\n\u201CDue to global macroeconomic downturn and market competition, the assumptions of 2011 Q4 financial forecast provided earlier are no longer applicable,\u201D the company said.\r\nIn December, HTC posted its November financials, highlighting a 30% drop in sales from October, and 20% down on the same period in 2010.\r\n\r\nThe world\u2019s fourth biggest smartphone manufacturer reported consolidated sales for November dropped to\u00A0T$30.94 billion ($1.03 billion) from T$38.48 billion ($1.27 billion)\u00A0a year ago and\u00A0T$44.11 billion ($1.46 billion)\u00A0in October 2011."^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/mobile/2012/01/06/htcs-q4-smartphone-sales-fall-as-profit-drops-for-the-first-time-in-2-years/>