HTC quarterly profit cut in half, tepid European sales and US customs issues to blame

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HTC has reported its Q2 2012 earnings today, which the company already warned would be lower than previous revenue targets. For the period between April and June, HTC's unaudited figures show $3.05 billion (91 billion TWD) in gross revenue, $275 million (8.2 billion TWD) in operating income, and $248 million (7.4 billion TWD) in net profit. The final figure is obviously the most important for the company's long-term health, and it has dropped precipitously relative to last year: it's over 57 percent lower than the 17.52 billion TWD earned in Q2 2011.

The overall revenue for the quarter just gone is actually in line with HTC's latest revision to its earnings forecast, so the company is at least keeping investors well informed about its performance, however that last guidance also informed us that sales in Europe have been disappointing, while those in the United States have suffered delays due to being held up in US customs on suspicion of patent infringement.

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