HTC Posts Record-Low Profit After Latest Smartphone Delayed
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HTC Corp., Taiwan’s largest smartphone maker, posted its lowest quarterly profit on record after the delay of its newest flagship phone caused revenue to miss the company’s target.
First-quarter net income plunged 98 percent to NT$85 million ($2.8 million), the sixth straight decline, according to data released by the Taoyuan, Taiwan-based company yesterday. The average of 19 analysts’ estimates compiled by Bloomberg was for profit of NT$600 million.