HTC Corp., Taiwan’s largest smartphone maker, posted net income that missed analyst estimates for a fourth consecutive quarter as rising competition from Chinese brands led to a decline in sales.
Fourth-quarter net income was NT$310 million ($10 million), the Taoyuan, Taiwan-based company said in a statement yesterday, missing the NT$694 million average of 20 analysts’ estimates compiled by Bloomberg. Operating loss of NT$1.56 billion was narrower than the NT$1.72 billion loss average of estimates. Shares fell to the lowest since October.