Taipei Times
Date: Jun 09, 2015
By: Lauly Li  /  Staff reporter

HTC Corp (宏達電) shares plummeted by the 10 percent daily limit to NT$83.6 in Taipei trading yesterday, hitting the lowest level in the company’s history, after the firm unexpectedly forecast a quarterly loss.

A total of NT$7.61 billion (US$243.32 million) of the smartphone maker’s market value evaporated, leaving NT$69.13 billion yesterday, from NT$76.74 billion on Friday last week.

The firm said in a statement released on Friday that it would lose between NT$9.7 and NT$9.94 per share this quarter, rather than earnings of NT$0.06 and NT$0.34 per share as estimated earlier this year.

HTC also slashed its sales guidance by nearly 30 percent to between NT$33 billion and NT$36 billion from the previous estimate of between NT$46 billion and NT$51 billion, citing rising competition, a change to the product mix and reduced scale.     [FULL  STORY]