HTC's big 2011 was limited to those warm summer months, when everyone wanted a smartphone for the beach. Now the accountants have confirmed HTC's initial statement: fourth quarter revenues were down 2.49 percent (year on year). It made 101.42 billion Taiwanese dollars (just under $3.5 billion) in the last three months of the year, which looks worse than it is because of the blockbuster 135.8 Taiwanese dollar takings in Q3. Overall year on year revenue was up by 67.09 percent, but profits were down 11.88 percent, with the company saying the outlook won't get any better in the first quarter, but should pick up when it begins the process of shedding a few pounds phones.

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