HTC Will Buy Back Stock After Apple Patent Infringement Ruling
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HTC Corp., Asia’s second-biggest maker of smartphones, said it will buy back as much as 2.4 percent of its outstanding shares after a U.S. International Trade Commission ruled that it infringed two Apple Inc. patents.
HTC shares tumbled 6.5 percent last week to NT$907 ($31.40) in Taipei amid concern the patent dispute with Apple will erode earnings by crimping sales in the U.S. or boosting costs. They closed at a six-month low of NT$870 on July 13.