(Credit: Sarah Tew/CNET )
HTC's third-quarter earnings paints a dire picture for the phone maker's ongoing profits, as the Taiwanese giant once again performs below analyst expectations and company forecasts.
The world's fifth largest smartphone maker said today its third-quarter profit fell by 79 percent year over year as it continues to struggle in the face of its competitors' devices and sharper sales.
HTC reported third-quarter total revenue of 70.2 billion Taiwan dollar ($2.39 bilion), down from 91 billion Taiwan dollars ($3.04 billion) in the second-quarter -- a drop of more than 20 percent -- and down from 135.8 billion Taiwan dollars ($4.5 billion) a year ago -- dropping by almost one-third at the same time last year.
The company said in August that it expected its third-quarter revenue to be in the region of 70 billion Taiwan dollars ($2.38 billion) to 80 billion Taiwan dollars ($2.73 billion), compared to around 91 billion Taiwan dollars in the second-quarter.
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