New handsets fail to lift HTC

HTC posted a record profit drop yesterday, as the smartphone maker failed to keep up with Samsung and Apple over the summer.

The Taiwanese firm said poor sales of its flagship handsets had led to a 79 per cent fall in profits, from T$18.7bn (£400m) to T$3.9bn in the last quarter. Turnover fell 23 per cent to T$70.2bn.

HTC was the leading manufacturer using Google’s Android software in the platform’s early years, but has been overtaken by Samsung as Android’s most successful partner. While sales of Samsung’s Galaxy S3 phone have beaten expectations, HTC’s One series has failed to make a dent.