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HTC shares slump to 4-yr low

Last Updated: Tuesday, August 7, 2012 - 09:34

Zeebiz Bureau

Taiwanese smartphone maker HTC saw a landslide in their shares for a second straight session, close to an almost four-year low on Tuesday.

The world No. 5 smartphone maker HTC, which was once in the top numbers but relinquished its command after being hit by companies like Apple and Samsung, predicted on Friday that its likely to face a 23 percent fall in the third-quarter revenue, worse than analysts forecast.

HTC, previously a contract maker, had a substantial growth in 2010 and early 2011, when its shares more than tripled in the 14 months to April 2001.

But it also suffered an equally matched fall as its phones could not match the competition offered by Apple's iPhones and Samsung's Galaxy range.

Further enhancing its brand to compete with Apple and Samsung is vital for HTC, many analysts say.

HTC’s latest outlook has disappointed analysts after the smartphone maker posted another forecast-lagging second quarter in July, and many downgraded the company to “sell”.

With Agency Inputs

First Published: Tuesday, August 7, 2012 - 09:34
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