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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 on Jun 11, 2015 07:01 pm CDT - 0 mins, 38 secs reading time

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?

Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:bloomberg.com

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