HTC slashes Q4 revenue forecasts
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According to Bloomberg, today HTC issued a statement saying that it has cuts its revenue forecasts for the Q4 2011 fiscal period. The company's prior forecast had called for revenue in the $4.12 billion to $4.45 billion range, but that now it is expecting the figure to come in at the same level as Q4 of 2010: $3.4 billion. That equates to somewhere in the neighborhood of a 20 percent reduction.
The company's sales are expected to slow down, quarter over quarter, for the first time in nearly two years. The company cites the economic downturn and increased competition as the reason for the change in expectations. »read more
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Filed in: HTC
Additional sources: 'Inferior products' to blame for weak HTC sales in Q4, Citigroup says read at www.bgr.com Report