Let's be honest – the moment we heard the HTC One was delayed we knew it would be a tough quarter for the Taiwanese company.
And so it is. HTC's first quarter profits were about as low as they could be while still being in the positive – plunging a massive 98% from the Christmas period to come in at just NT$85m (£1.85m).
It's still a profit, and with sales of the HTC One likely to seriously boost Q2's result along with however well the HTC First Facebook phone does, it'll probably be as bad as things are likely to get in the short term. But it's far from the heady heights of a few years ago.
Overall it marked the sixth consecutive drop in quarterly profits, and the final profit figure was more than five times smaller than forecast.
“These numbers show the [HTC One] production shortage really is that bad, and my sense is that it won’t get much better in the second quarter because many of those issues continue,” Bloomberg reports Yuanta analyst Dennis Chan as saying.
That seems to be the consensus for the time being, with most analysts seemingly believing HTC has lost its chance for the One to make a serious impact.
With the Samsung Galaxy S4 due out at the end of the month, the theory goes, HTC One supply pressures are now as likely to ease through loss of demand as they are from improved production output.