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HTC profits slump 90pc on strong competition – Retail in Asia

Retail in Asia

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HTC profits slump 90pc on strong competition

Taiwanese mobile phone maker HTC has reported a slump in profits as it continues to suffer at the hands of rivals Apple and Samsung.

Unaudited net profit in the fourth quarter was TWD1 billion (USD34 million), down more than 90 percent on the TWD11b the firm made a year ago and below analysts’ expectations. Revenue was TWD60b.

The firm suffered from launching no big products in the period, analysts said.