HTC has been struggling a bit financially lately, and the latest news for its Q2 sales isn't good — the company said this morning that it was cutting back its Q2 2012 revenue target by 13.3 percent to $3.03 billion. While some of the cutback is due to a one-time write off of last year's inventory, the company also acknowledged that sales in the US and Europe were lower than expectations. Additionally, HTC revealed that consolidated sales for May were down 26 percent compared to May of 2011.

We already knew that the company's Q2 revenue was forecasted to be lower than revenues back in Q2 2011, and now it sounds like they're going to be even lower. With the Samsung Galaxy S III prepared to make an assault on US shores in just a few weeks, things might not get any easier for HTC in the short term — and the multiweek delay while the HTC Evo 4G LTE was stuck at US customs certainly hasn't helped the matter, either.