Poor profits for the second quarter of 2013 compared to previous years has seen the technology company’s share price tumble today as investors and analysts failed to see the growth they had hoped for following the launch of the new HTC flagship phone.
Share prices fell 7% to $189 Taiwanese Dollars after profits of just £27 million for April to June. Despite being an early leader in the smartphone market the company has struggled to compete with other major technology companies such as Samsung and Apple.
Analysts have suggested that even if HTC launch new devices in the third quarter of this year it will be hard to sustain the growth necessary to restore confidence in the company.
HTC is not alone in failing to meet analyst expectations, however. Last week What Mobile reported that smartphone giant Samsung had recorded lower profits than anticipated, prompting fears that the smartphone market may be reaching saturation.
