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Taiwan mobile giant HTC hit by poor profits


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Taiwan mobile giant HTC hit by poor profits

Shares in Taiwanese mobile phone giant HTC have fallen following a disappointing fourth quarter.

The drop came after HTC reported profits of $300 million, compared with $1 billion the same time last year.

Even the recent release of its ONE MAX smartphone, to regain market share, failed to arrest a slide that has lasted nearly two years.

Rising global competition, particularly from cheaper Chinese brands, are being blamed for the firm’s poor results.

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