Apple Inc. (AAPL) and Samsung Electronics Co. have become leaders in the mobile market with new devices from time to time and huge profits with the same, a recent report claims. Since, competition with the two has even made HTC Corp. (2498) to realize a big fall in its record profit for a quarter.
HTC is the second-largest smartphone maker in Asia and despite its launch of new devices, the company has experience a 79% decrease in its third-quarter profit. Also, Kevin Chang, who is an analyst at Taipei's Citigroup Inc., says that amid tough competition with iPhone 5 sales and sales of an unbranded white box, the HTC phones may not help recover this quarter.
Peter Chou, Chief Executive Officer had sent an e-mail to the employees that a "sense of urgency" was missed and `bureaucracy' prevailed, which led down the One, Sensation and Desire handsets maker.
It has been told that by the Taoyuan, Taiwan-based company that the net income was NT$3.9 billion ($133 million) for the quarter. However, analysts had estimated NT$4.43 billion on an average.
"While HTC was doing well in China in the third quarter, we believe the dramatic price declines and performance improvements of white box smartphones have dampened HTC's momentum in China", Chang was quoted as saying.
US Business News
New Zealand News
- After Suspected Botulism, CFIA Warns People
- Health Care Education Necessary for the Future of Province: Analysts
- B.C. Government Grants $700,000 for Managing Facial Deformities
- Michelle Shocked delivers hate speech about homosexuality at her gig
- Guess who Justin Bieber got burned by?!! His ex-girlfriend Selena Gomez