HTC expects revenue to drop in Q4

PHOTO: HTC expects revenue to drop in Q4

TAIPEI - Taiwan's HTC Corp expects revenue to drop in the fourth quarter compared to the previous three months as the smartphone maker loses more ground in a market dominated by Apple Inc and Samsung Electronics.

HTC said in a statement on Tuesday it expects revenue this quarter of T$40 billion to T$45 billion ($1.3 billion to $1.5 billion), below an average forecast of T$46 billion from 20 analysts polled by Thomson Reuters SmartEstimates.

It reported revenue of T$47.1 billion in the previous quarter and T$60 billion a year ago.

Early last month the company posted a larger-than-expected loss of T$2.97 billion for the June-September period, its first-ever quarterly net loss.

Supply-chain mismanagement, employee defections and marketing misfires, among other issues, have pushed the company's stock price to its lowest level since 2005 - before it started releasing phones under the HTC brand.