HTC Earnings Nosedive

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Taiwan based phone company is struggling to compete with Apple and Samsung with its earnings cratering sharply by a massive 64 per cent.
HTC reported first quarter earnings coming in at NT$14.8 billion ($A602,863,574).
This was a big reduction on the NT$41.5 billion the year before.
A big part of the problem is the global drop in smart phone sales.
But the company is optimistic about  HTC is optimistic about its latest smartphone releases, including the HTC10.
And it is still upbeat about its financial performance for the full year, hoping to break even in the third quarter.
Cher Wang, chairwoman and CEO of HTC said the company’s future lies with virtual reality.
“The media and consumer buzz around HTC, including for the keenly-awaited launches of the flagship smartphone and Vive virtual reality system, clearly demonstrate our leadership in innovation and have provided a great boost to the HTC brand.
“We have been working hard to lay the groundwork over the past year, streamlining processes and optimising resources to enable us to develop the best products in the most effective way.”

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