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 | Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. |