Taoyuan, Taiwan - HTC's first-quarter 2012 revenues fell 35 percent to NT$67.8 billion ($2.3 billion), in line with the company's forecast decline of 32.8 percent to 37.6 percent, according to unaudited results released by the company.
The cellular handset and tablet maker also posted a 69 percent decline in operating income to NT$5.1 billion, a 67 percent decline in net income before taxes to NT$5.56 billion, and a 70 percent decline in net income after taxes to NT$4.47 billion.
Currency conversions are based on $1=NT$29.5.
Earlier this year, the company forecast a first-quarter revenue decline and low first-quarter gross and operating margins because of a product transition designed to make new phones more competitive. In the fourth quarter of 2011, sales plunged because of iPhone competition, lower than expected sales of 4G LTE phones, and LTE handset designs and battery lives that needed improvement, the company previously said.