One X maker has just seen $1 billion wiped off its value after reporting 41% revenue dip last week.
The Taiwanese phone makers profit stumbled 58% 7.4 billion New Taiwan dollars ($A238 m) in the April to June quarter 2012, it announced last week.
The Company said that third-quarter revenue will be around $2.3 billion – a slump of 41% when compared to same period 2011.
The profit dip marks the third consecutive drop. In May, HTC announced a 30% drop in consolidated revenues for Jan-April period compared to same quarter last year.
Investors have been fleeing the Taiwanese company in droves one the poor result -a movement which has knocked a massive $1bn chunk off its market value and pushed its share price to new lows – closing down NT 238.50 a far cry from the heady days when HTC share prices were as high as NT 851.00
HTC’s fortunes received a battering of late, despite the release of some pretty powerful superphones – One S, One X – and has been losing market share to the likes of iPhone and Samsung, whose well-known brands have consumers flocking to their devices.
