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HTC shares at their lowest since May 2005, even after M9 announcement

HTC is in serious trouble, with the company cutting its sales forecast by 35%
By: Anthony Garreffa | Mobile Devices, Tablets & Phones News | Posted: Jun 12, 2015 12:01 am

HTC is in trouble once again, with the Taiwanese smartphone manufacturer cutting its sales forecast by as much as 35%, with plans to write off $94 million of "impaired assets", writes Bloomberg.

 

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HTC shares have dropped by 9.9%, the lowest they've been since May 2005. Slowing demand and weaker sales in China have reportedly been to blame, with HTC set to record a loss for the current quarter. Jasmine Lu, an analyst with Morgan Stanley said: "The magnitude and timing should disappoint the market and deepen investors' concerns over rapidly deteriorating fundamentals and management credibility".

 

It seems that even the One M9 smartphone wasn't enough to help HTC out of its slump, but with the Vive VR headset coming out this year, will it be enough to help HTC?

NEWS SOURCES:Bloomberg.com

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