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HTC Profits Slump As Sales Fall by a Quarter
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Taiwan's HTC has announced that its second quarter revenues NT$91.04 billion (US$3 billion), down by 27% on the NT$124.4 billion posted a year ago, and slightly lower than analysts expectations.
Profits also fell by a larger amount, to NR$7.40 billion compared to NT$17.5 billion a year ago.
The company is also forecasting a weak third-quarter, with revenues of between NT$70 billion and NT$80 billion.
"China will continue to see growth in the third quarter, while other markets will have different degrees of decline," Chief Financial Officer Chialin Chang said during the results conference call.
The company added in its brief statement that it continues to optimize organizational structure and resources to increase efficiency and competitiveness.
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