HTC has just published their February 2013 revenue numbers. Actually, it’s just one number: $11.37 billion Taiwanese dollars, which translates to about $384 million. That’s an incredible 44% less than the same month one year ago, and it’s 27% less than revenues for January 2013. According to The Next Web, the last time HTC made this little money during one month was February 2010, exactly three years ago.

This is bad. Really bad. To provide some additional context, most of HTC’s sales are in Asia. Do you know what takes place every February? Chinese New Year. This writer was in Taiwan last month, and he can report that it was an absolutely insane experience. Gift giving is a critical component of the culture, and many highly sought after consumer electronic items were simply out of stock.

Did people know about the upcoming HTC One and simply decide to delay their smartphone purchase? We’ll find out in April, when HTC reports their March figures. But to be perfectly honest with you, we think HTC has simply lost their way. The One, regardless of how good it might be, will starve for attention once Samsung starts marketing the Galaxy S4. Maybe HTC has something up their sleeve that they’ve yet to show off? We can only hope.

What else is there to say at this point? HTC should be studied by everyone in the mobile industry, because they make great products, yet the company is losing money left and right. Why? When you stop and think about it, HTC doesn’t really do anything other than put together other people’s components. They don’t make their own screens, their own chips, their own batteries, anything really.

Meanwhile, Samsung depends on their own factories for pretty much their entire portfolio. Yes, there are several Braodcom powered Galaxy phones out there, but the bleeding edge stuff, the high margin high end devices, those contain a fair amount of Samsung parts.