HTC results tumble

HTC results for the first quarter have taken a tumble, down 30% compared to the same period last year. The corporation has blamed the decline on the global recession and delayed shipments of some of its new products.

The company said net profit dropped to NT$4.89 billion (US $147 million) for the quarter ended 31 March, down from NT$6.94 billion the year before.

Revenue for the quarter was down to NT$31.59 billion, a fall of 3.4%. This compares to revenue of NT$32.70 billion for the same period in 2008.