HTC Is Bleeding Revenue and Profits Amid Increasing Competition
Taiwanese smartphone maker HTC released its Q2 numbers and the period was a bloodbath. Revenue was down 27 percent in the quarter year-over-year, while gross profit was down by 30 percent. Earnings per share were down by a whopping 57%. The quidance provided by the company for the quarter ahead were equally gloomy with predictions of a further gross margin decline of 25 percent and an operating margin decline of seven percent. The company is facing increasing pressure at both ends of the market. In the US, the high end Android market is led by Android, while in China, local players are winning the low end space. [Source Techcrunch]
