Published in Mobiles
HTC takes a beating, profit drops 79%
Quietly going under
Shares of smartphone maker HTC are taking a beating after the troubled outfit came out with lackluster earnings.
HTC’s third-quarter income dropped to just $133 million, a 79 percent decline in a year. The company lost seven percent of its value in a day’s trading, the biggest one-day loss since July 5. HTC shares shed 46 percent this year and it seems things are only getting worse.
The company recently introduced two Windows Phone 8 handsets, along with a few revamped Android handsets, but analysts do not expect the new products to make much of a difference. Although HTC’s One series was lauded by the tech press, the positive reviews apparently did not translate into strong sales.