Android Smartphone Pioneer Hits Turbulence in Q3
High Tech Computer (HTC), which developed the first smartphone based on Google's Android mobile operating system, saw revenue decline in the third quarter due to increased competition and weak sales in Europe.
The company's revenue fell 10 percent year on year to NT$34.01 billion (US$1.05 billion) and its net profit dropped to NT$5.70 billion from NT$6.99 billion, the company said Monday.
Increased competition in the smartphone market and the launch of the iPhone 3GS in particular have hurt many smartphone makers, analysts say. Apple slashed the price of the iPhone 3G to US$99 when it launched the iPhone 3GS in June, and put a low, $199 price tag on the new handset. The move helped Apple report record high quarterly revenue of $9.87 billion in its most recent quarter, which ended Sep. 26, as iPhone and Mac computer shipments hit all-time highs.
HTC's revenue has fallen in the months since the iPhone 3GS launched. The company's revenue in the second quarter, which ended June 30, was NT$38.20 billion.


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