HTC, which is undergoing through great downfall from past straight five quarters. In Actual they are going through one of the worst days in the history of HTC. Their shares are already reeling under that spell of fall in earnings.
In a blow to that downfall, now company is soon to be relegated from the one of the main stock market in Taiwan, Taiwanese 50 Index Stock Exchange. The Taiwan 50 Index includes the top 50 large cap stocks in Taiwan and as a result of HTC’s continued financial struggles it will be dropping down a level to the Taiwan Mid-Cap 100 Index instead.
HTC incurred NT$9.70 (US$0.30) in losses per share and the company has forecast it will post an additional NT$5.51 to NT$5.85 in net loss per share in the third quarter, amid escalating competition.
HTC was founded in the 1990s and started out manufacturing notebook computers and some of the first touch handheld devices. It also made the world’s first Android smartphone.
But it has been outgunned at the top end of the smart phone market by Apple, Samsung and LG.