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HTC Posts 91% Slump in Quarterly Profits
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Taiwan's HTC has reported a 91 percent slump in its fourth-quarter profits of just T$1 billion (US$34 million). This is the fifth consecutive fall in its quarterly profits and the lowest figure recorded since 2006.
Revenue fell by 41% to T$60 billion (US$2 billion).
HTC's smartphone market share dropped to 4% in the third quarter of 2012 from 10.3% a year earlier, according to earlier figures from IDC. The market share for the fourth-quarter is still to be announced.
HTC has a new flagship smartphone due out this year which analysts expect will help the company recover somewhat, but it faces continuing competition from Samsung and Apple in its core markets.
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