Taiwanese smartphone maker HTC recorded a 35 percent year-on-year decrease in total revenue in the first quarter of 2012, according to its unaudited results for the period.
 
The company recorded revenue of TWD67.8 billion (US$2.29 billion) in the first quarter of 2012, which contributed to net income of TWD4.46 billion. Earnings per share after tax were TWD5.35.
 
The company previously announced poor sales for February 2012 as an aging product line and increasing competition in the smartphone market took their toll. Revenue in February was TWD20.29 billion, down 37 percent year-on-year.
 
Despite this, the unaudited results suggest the company has hit its forecast revenue of TWD65 billion-TWD70 billion.
 
HTC announced its HTC One portfolio at Mobile World Congress in February, as it looked to reinvigorate its portfolio, with particular focus on high-end devices. The range is due to be launched this month and is expected to trigger an improvement in the company’s margins.
 
HTC’s struggles come after a long period of steady growth as the company capitalised on being one of the early adopters of Google’s Android smartphone operating system.
 
The company’s goals for 2012 include plans to “develop [the] mass market opportunity;” “drive operational activity;” and “invest in emerging markets to expand brand awareness and distribution channels.”