HTC reported poor figures for the first quarter of 2013, as delays to the launch of its flagship One smartphone impacted sales.

For the three months, the company reported a net income of TWD85 million ($2.8 million), down from TWD4.46 billion in Q1 2012, on revenue of TWD42.79 billion, down 36.9 per cent year-on-year from TWD67.79 billion.

The revenue numbers are below an already muted forecast from the company, which in February 2012 provided guidance in the TWD50 billion to TWD60 billion range.

HTC has previously described itself as being in a period of transition, ahead of a “material increase in revenue” expected to follow the launch of its latest One smartphone.

However, the rollout of One has been impacted by supply issues, which has delayed its availability – pushing its commercial launch up against that of Samsung’s new Galaxy S4 high-end device.