HTC Has First Profit Drop in Two Years on IPhone Competition
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HTC Corp., Asia’s second-largest smartphone maker, posted its first quarterly profit decline in two years as competing models from Apple Inc. and Samsung Electronics Co. damped demand for its handsets.
Fourth-quarter net income dropped 26 percent to NT$11 billion ($364 million) from NT$14.8 billion a year earlier, the Taoyuan, Taiwan-based company said in a statement today. The average of 11 analyst estimates compiled by Bloomberg in the past four weeks was for profit of NT$11.6 billion.