Taiwan’s HTC Q3 net lags forecasts, down 79 pc

Taiwan’s HTC Corp, the world’s fifth-largest smartphone maker, said third-quarter net profit fell 79 per cent, missing forecasts, as its flagship phones failed to keep pace with the Apple’s iPhone and Samsung Electronics’ Galaxy range.

Unaudited July-September net profit was T$3.9 billion (US$133.17 million), the company said, down from T$18.68 billion in the same period a year earlier and T$7.4 billion in the previous quarter. The company did not elaborate.

Earnings had been expected to drop to T$5.57 billion, according to a Thomson Reuters I/B/E/S survey of 21 analysts.

via Business feed http://www.scmp.com/business/companies/article/1056381/taiwans-htc-q3-net-lags-forecasts-down-79-pc