Taiwan's HTC has announced that its fourth-quarter revenues were NT$101.42 billion, while net profit fell by 26% to NT$10.94 billion (US$370 million). Gross profit and operating margins came in at 27.12% and 12.71%, respectively.

The company said that the decline in gross profit margin was mainly a result of "product transition".

For the full-year, revenues rose by 67% to reach NT$465.79 billion, while net profit was up by 56.8% at NT$61.98 billion.

Outlook

For the first-quarter of this year, the company expects revenues to be around NT$65-70bn, while the gross margin will fall to 25%.

Net income is expected to drop a record 39 percent to NT$9.1 billion this quarter, according to analysts.

The company added that these margins are a temporary phenomenon and will normalize when product cycle transition is over.