Taiwanese smartphone maker HTC reported a worse than expected net fourth-quarter profit on Sunday, despite aggressive cost cutting and a one-time gain.
The company reported net profit of T$0.3 billion ($10 million), compared to a net loss of T$2.97 billion ($99.9 million) in the previous quarter and profit of T$1.01 billion ($34 million) in the same quarter of 2012.
The figure lags expected net profit of T$721.71 million ($24.3 million), according to a foreign news agency.
The number highlights how quickly problems have piled up at a company that just over two years ago supplied one in every 10 smartphones sold around the world.
The company, which has lost nearly three-quarter of its market value in the last two years, is now worth about $4 billion, dwarfed by rivals like Apple and Samsung Electronics Co Ltd.
