Retail in Asia

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HTC says cuts 2Q sales target by 13.3pc

Taiwanese smartphone maker HTC Corp cut its second-quarter revenue target by 13.3 percent to TWD91 billion (USD3.03b) on Wednesday, and operating margin by 2 percentage point to 9 percent.

HTC said in a statement the cut was due to lower-than-expected sales in Europe and the US, and a one-time write off of the previous year’s inventory.