HTC warns for flat sales in Q4

Nieuws Mobiel Wereld 24 NOV 2011
HTC warns for flat sales in Q4
HTC has cut its outlook for fourth-quarter sales. While a month ago the company forecast revenues up 20-30 percent, HTC said it now expects quarterly revenues flat versus the year-earlier period. The smartphone marker blamed the slowdown on the global macro economic downturn and market competition. HTC said it expects growth to resume in the first half of 2012. The company also announced a "re-evaluation" of its acquisition of S3 Graphics. HTC acquired S3 Graphics earlier this year based on the hope it could win a patent infringement suit against Apple. However, the latest ITC ruling found that Apple did not infringe the S3 patents. HTC said it will work with VIA Technologies and WTI Investment International, the former shareholders in S3, to re-evaluate the takeover.

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