HTC cuts forecast on competition from Apple and Samsung, reevaluates S3 acquisition

<center><a href="http://www.bgr.com/2011/11/23/htc-cuts-forecast-on-competition-from-apple-samsung-reevaluates-s3-acquisition"><img class="size-full wp-image-113903 aligncenter" title="htc-logo-sign-legend" src="http://www-bgr-com.vimg.net/wp-content/uploads/2011/11/htc-logo-sign-legend.jpg" alt="" width="652" height="451" /></a></center>

Leading smartphone vendor HTC on Wednesday trimmed its fourth-quarter revenue forecast by roughly 23% as stiff competition from Samsung and Apple has seeming slowed sales. The Taiwan-based company became <a href="http://www.bgr.com/2011/10/31/htc-takes-top-smartphone-spot-in-u-s-according-to-q3-data-from-canalys/">the No.1 smartphone vendor in the U.S.</a> by shipment volume last quarter, but <a href="http://www.bgr.com/2011/11/07/iphone-4s-launch-helps-end-htcs-record-revenue-run/">a six-month string of record revenue came to an end in October</a> following the release of Apple’s highly anticipated iPhone 4S. In light of the new iPhone and Samsung’s recent success in the smartphone space, HTC lowered its fourth-quarter revenue forecast to NT$104 billion from its earlier guidance of between NT$125 billion and NT$135 billion. Unless things pick up, HTC’s sales will decline sequentially for the first time in two years, <em>Bloomberg</em> reports. HTC said it will also reevaluate its $300 million acquisition of S3 Graphics following news that <a href="http://www.bgr.com/2011/11/21/itc-tosses-s3-graphics-suit-against-apple/">it lost a patent-infringement case against Apple</a> earlier this week.<span id="more-113901"></span>

<a href="http://www.bloomberg.com/news/2011-11-23/htc-cuts-sales-forecast-on-competition-from-apple-samsung-1-.html">Read</a>

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Via BRG - Boy Genius Report