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Last 7 Days News : SU MO TU WE TH FR SA All News

Friday, October 04, 2013
Samsung Posts Record Earnings, HTC Under Pressure After Loss


Samsung Electronics estimates third-quarter record earnings adding more pressure to its Taiwanese competitor HTC, which reported its first-ever quarterly loss.

Samsung announced its earnings guidance for the third quarter of 2013. The Korean company estimates that its third-quarter operating profit rose to about 10.1 trillion won ($9.4 billion) on sales of cheaper handsets in emerging markets. Consolidated sales were approximately 59 trillion Korean won, according to Samsung.

HTC posted a net loss of NT$2.97 billion ($101 million) in the same period as its global smartphone market share plunged by more than half. The company also posted revenue of NT$47 billion in the quarter. Tepid sales in May led AT&T to cut the price of HTC?s First handset and consider dropping the device that integrates Facebook social-networking features.

HTC has focused a revival on its flagship One handset. But Samsung's strategy proved smarter, as the company expanded its range of mid-priced smartphones such as the Galaxy Golden and S4 Mini to capture sales in China and India. Samsung also has benefited from rising prices for the memory chips it makes for customers including Apple.

The release of the HTC One was also delayed amid a shortage of camera components.

HTC is also reportedly considering a proposal by Microsoft to add its Windows operating system to smartphones using Google's Android software.

The results from both companies were preliminary. Audited earnings are due later this month.



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