HTC Q2 2012 financials show 57.8 percent fall in net profits

HTC has announced its unaudited second quarter financial results this morning, showing earnings in line with its previous Q2 earnings guidance, which had been revised down. In stark contrast to Samsung's record profits, From March to June, HTC generated revenues of NT$91.0 billion (~$3.04 billion), while net income after tax was NT$7.4 billion (~$247 million). This represents a 57.8 percent fall from the second quarter of 2011, during which HTC raked in a net income of NT$17.52 billion (~$586 million).

HTC's had a rough time financially over the past six months, due to strong smartphone competition from the likes of Samsung and Apple. In its earlier revenue guidance, the manufacturer blamed the lower-than-expected profits on lackluster European sales, as well as trouble getting some HTC One phones past customs in the U.S.