HTC Declines to 5-Month Low After U.S. Shipment Delay
HTC Corp. (2498), Asia’s second-largest smartphone maker, declined to the lowest level in five months in Taipei trading after shipments to the U.S. were delayed because of concerns by the country’s customs authority.
The shares dropped 6.6 percent to NT$411 at close, the lowest since Dec. 9. The benchmark Taiex Index (TWSE) fell 2.2 percent.
The U.S. availability of HTC One X and HTC EVO 4G LTE has been delayed because of U.S. customs review of shipments that is required after an exclusion order by the U.S. International Trade Commission, the Taoyuan, Taiwan-based company said in an e-mailed statement today. HTC is in compliance with the ruling and is working closely with the customs authority to secure approval, it said.
The smartphone maker is unclear when the issue can be resolved and a prolonged delay may affect second-quarter sales, Jeff Pu, an analyst at Fubon Securities Co. in Taipei, said in an e-mail.
Sprint Nextel Corp. (S), the third-largest U.S. wireless carrier, was scheduled to sell HTC EVO 4G on Friday. AT&T Inc. (T), which has been offering One X handsets since May 6, said the model is out of stock, according to its website.
HTC has been in patent dispute with Apple Inc., which won an exclusion order late last year for certain HTC phones.
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