HTC has announced Q2 2012 revenue down 26.8% compared to 2012, as the market reacted lukewarm to their HTC One series of Android smartphones.
Both gross and operating margins also took a hit, and HTCâ€™s One X tellingly got a price cut from $199 to $99 on AT&T recently.
Things are not looking much better for the future either, with HTC predicting Q3 sales 23% down sequentially and 48% YoY to $2.3 billion.
HTC is pitting its hopes on China, where its handsets have done unexpectedly well.
It is unclear how HTCâ€™s worsening performance will affect its Windows Phone 8 line, which is expected to include 3 different handsets at various pricing levels.