HTC is the largest seller of smartphones in the United States but its sales fell to the lowest level in 16 months. This came after the company slashed its fourth-quarter forecast due to the global economic crisis as well as competition from Apple.
HTC shares dropped 6.9 percent to NT$526, which is the lowest since July 2010. The Taiex index added 0.6 percent. Revenue for the last quarter of the year is expected to be a little higher than last year. Its previous estimate was a growth of 20 percent to 30 percent.
HTC’s first decline in almost two years came after it took the top spot in the US market at the same time fighting off the lawsuits from Apple. Four brokers reduced their price estimates on the stock. It lost 57 percent of its value since it peaked in April.
In the third quarter of this year, HTC won over Samsung to become the largest smartphone seller in the United States. In the said quarter, it got 24 percent of the market. Even HTC’s suppliers were affected. Catcher Technology, Largan Precision, and TPK Holding declined in the Taipei trading. Largan is the supplier of camera lenses while Catcher is a casing manufacturer.
