HTC expects revenue to drop in Q4

Reuters

TAIPEI, Nov 5 (Reuters) - Taiwan's HTC Corp expects revenue to drop in the fourth quarter compared to theprevious three months as the smartphone maker loses more groundin a market dominated by Apple Inc and SamsungElectronics.

HTC said in a statement on Tuesday it expects revenue thisquarter of T$40 billion to T$45 billion ($1.3 billion to $1.5billion), below an average forecast of T$46 billion from 20analysts polled by Thomson Reuters SmartEstimates.

It reported revenue of T$47.1 billion in the previousquarter and T$60 billion a year ago.

Early last month the company posted a larger-than-expectedloss of T$2.97 billion for the June-September period, itsfirst-ever quarterly net loss.

Supply-chain mismanagement, employee defections andmarketing misfires, among other issues, have pushed thecompany's stock price to its lowest level since 2005 - before itstarted releasing phones under the HTC brand.

Rates

View Comments (0)