The Taiwanese cellphone mega-manufacturer has cut its immediate revenue forecasts by as much as a quarter, citing continuing global recession and competition from Apple and Samsung. It expects it’s fourth quarter revenues to be $3.4 billion – the same as this time last year.
“Due to global macroeconomic downturn and market competition, the assumptions of 2011 Q4 financial forecast provided earlier are no longer applicable,” HTC said. Growth will return in the first half of next year, it said.
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