HTC posts record 79% quarterly profit dropOctober 8, 2012 - 16:23 AMT PanARMENIAN.Net - HTC, Asia’s second-largest smartphone maker, posted a record 79 percent drop in quarterly profit as competition from Samsung Electronics and Apple drove down sales of the Taiwanese company’s devices, Bloomberg reports. Third-quarter net income slumped to NT$3.9 billion ($133 million), the Taoyuan, Taiwan-based company said in a statement Oct 8. That missed the NT$4.43 billion average of eight analysts’ estimates compiled by Bloomberg in the last 28 days. HTC, maker of the One, Sensation and Desire handsets, lacked a “sense of urgency” while “bureaucracy crept in,” Chief Executive Officer Peter Chou said in an e-mail to employees in August. Gains by Samsung and Apple’s iPhone 5 sales and stronger competition in China from unbranded, or so-called white box, phones could hamper a rebound this quarter, according to Kevin Chang, an analyst at Citigroup Inc. in Taipei. “HTC is likely facing further share loss in the U.S. and Europe” in the fourth quarter, Chang, who rates the stock sell, wrote in an Oct 4 report. “While HTC was doing well in China in the third quarter, we believe the dramatic price declines and performance improvements of white box smartphones have dampened HTC’s momentum in China.” Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Exclusive access to all EURO 2024 games for Ucom subscribers This year once again Ucom stands as the primary partner of UEFA EURO 2024 in Armenia. Armenia, U.S. to upgrade Strategic Dialogue meeting to Strategic Partnership Commission The two governments have release a statement on the occasion of the U.S.-Armenia Strategic Dialogue Capstone meeting. Azerbaijan complains to Germany about Armenia's constitution Bayramov has complained about the Armenian constitution to his German counterpart Annalena Berbock. idcoin: New tool in IDBank’s loyalty system IDBank has announced the launch of idcoin, a new tool in the customer loyalty system. |