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June 26, 2017

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HTC pessimistic over Q4; forecasts 1% profit margin

HTC, a leading Taiwan smartphone manufacturer, yesterday gave a downbeat assessment for its fourth-quarter operations, saying operating profit margin for the current quarter would be only 1 percent.

The firm made the forecast during its quarterly investors' conference yesterday.

At the event, HTC reported third quarter sales of NT$70.2 billion, gross profit margin of 25 percent, operating profit margin of seven percent and net profit of NT$3.9 billion, which translated into earnings per share of NT$4.7.

For the fourth quarter, HTC expects sales to be NT$60 billion, lower than the third-quarter figure. Gross profit margin for the current quarter would be 23 percent and operating profit margin just one percent.

HTC however maintained it will stick to product quality and give customers the best devices possible.

"Products, innovation, employees and partners are the most important assets that we have," said Peter Chou, CEO. "We anticipate to introduce cutting-edge designs and innovations to consumers."

China has become one of the most important growth markets for the smartphone manufacturer, which will in the future work with prestigious brands on the other side of the strait to achieve growth and widen its reach, the firm said.

As for other regions, business is in line with expectations in the United States, where flagship products have received rave reviews. The HTC J phone meanwhile has received huge popularity in Japan and will, along with the HTC J Butterfly, serve as the growth driver in the Japanese market.

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