HTC Profit Declines 70% After ‘Dropping the Ball’ on Phones
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HTC Corp., Asia’s second-largest smartphone maker, posted its biggest drop in profit since listing a decade ago after sales declined amid competition from Apple Inc. and Samsung Electronics Co.
First-quarter net income was NT$4.46 billion ($151 million), the Taoyuan, Taiwan-based company said in a statement on its website today, a 70 percent drop from a year earlier. The average of 17 analysts’ estimates compiled by Bloomberg was for profit of NT$4.62 billion.