HTC posts its lowest quarterly profits yet-- HTC One launch delays cause Q1 2013 net income to drop by -98% Y-o-Y to $2.8 million, down from $173m in Q1 2012.

Meanwhile revenues fall by -37% to $1.14 billion according to Bloomberg estimates.

The chief reason for such dramatic losses are camera component shortages, causing the the HTC One to miss its March 2013 global launch date. Analysts predict limited chances for profits to rebound in Q2 2013, since the flagship handset will be available less than a month before the Samsung Galaxy S4.

“For smartphones, timing is everything and the delay means they lose that timing,” Yuanta Securities remarks.

Now HTC puts its hope on the HTC First-- the first smartphone to feature Facebook's "Home" app, also set to be available by April 2013. Will the power of social networking bring the Taiwanese mobile maker back on its feet?

Go HTC Releases Unaudited Q1 2013 Results

Go HTC Posts Record-Low Profit (Bloomberg)