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HTC continues to struggle as Q3 profits drop 79 percent from last year

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Will new Windows Phone 8 and Android handsets stop the downward spiral?

HTC Windows Phone 8X
HTC Windows Phone 8X

HTC has suffered yet another disappointing quarter, as revealed by the release of its unaudited Q3 2012 financial figures. This is the fourth consecutive quarter that the smartphone maker's profits have been down over the past year's, although it has continued to turn a modest quarterly profit. It made a net profit of $133.2 million on total revenues of $2.4 billion, down massively from last year's $636.5 million net profit on $4.64billion revenue.

The company has released a number of well-received devices this year, including the One X and One S, but has failed to gain traction in the wake of massive product launches from Apple and rival Android manufacturer Samsung. HTC recently announced a pair of Windows Phone 8 handsets, the 8X and 8S, as well as an updated Android flagship, the One X+, which it hopes will turn its fortunes around.