HTC has reported its financial results for the third quarter of the year, showing a continuation of the slump in revenues that has characterized the company's 2012 performance. From July to September, HTC's net revenue was $2.397 billion (NT$70.2 billion), down from $3 billion (NT$91.04 billion) in the second quarter. Net income after tax is reported at $133 million (NT$3.9 billion), down from $247 million (NT$7.40 billion) in Q2. According to reports from Bloomberg, today's numbers represent a 48 percent fall in revenues over the past year. The NT$70.2 figure sees HTC narrowly land within the forecasted NT$70-80 billion window.

HTC has faced strong competition from the likes of Samsung and Apple over the past year, and despite putting out critically-acclaimed phones like the One X, HTC has failed to shift its devices in as great a quantity as Samsung's Galaxy line. The company will be hoping to reverse its fortunes with refreshed Android handsets this fall, along with a renewed focus on Windows Phone, through its Windows Phone 8X and 8S handsets.

Source: Bloomberg, TNW