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HTC posts improved but still worryingly low Q2 financial figures

HTC has announced its Q2 financial figures, which make for worrying reading.

For the months of April, May and June, HTC has posted profits of NT$1.25 billion (£27.9 million), an 83 per cent decline on last year's figure of NT$7.4 billion (£165 million).

However, the figure represents a strong increase on Q1's record low results, which came in at a measly NT$85 million (£1.9 million).

Total revenue for Q2 came in at NT$70.7 billion (£1.6 billion), down from the NT$91.04 billion (£2 billion) posted for the same period last year.

The Taiwanese company's April and May revenues showed promising growth, at 23 per cent and 48 per cent, while poor June sales brought about a crippling 26 per cent decline.

It is no secret that HTC has been struggling of late, having to compete against Samsung's vast range of devices and Apple's immensely popular iPhone 5.

The HTC One, which has been extremely well received, scoring almost perfect marks in ITProPortal's review, is one of the only shining lights for HTC at the moment, tackling an extremely competitive smartphone market virtually single-handed.

It is expected that HTC is set to introduce a mini version of the One, reportedly called the Mini One, this summer.

The device will pack a 4.3in display and will compete directly with Samsung's 4.3in Galaxy S4 Mini, which was launched at Samsung's Premiere 2013 event at Earls Court last month.