By Anton D. Nagy | November 24, 2011 3:48 AM
After a previous steady 20 percent to 30 percent year-on-year growth, HTC has now revised its revenue forecast for the last quarter of 2011. The Taiwanese company said it is expecting no-growth stagnation which immediately reflected in HTC shares dropping 7 percent.
If in the first half of the year HTC saw shipments almost doubling, the second half of 2011 was a slower period, mainly because of increased competition from manufacturers like Apple and Samsung. However, the phone-maker predicts a revenue growth for the first half of 2012 while remaining confident in its products. Credit Suisse said the new forecast translates to up to 25 percent quarterly decline and two-million smartphone units less. After shares have dropped, the Swiss multinational financial services company changed HTC’s rating from “outperform” to “neutral”.