HTC Announces Gloomy 4Q Forecast
At least HTC is being realistic about its recent struggles.
The Taiwanese smartphone maker on Tuesday released guidance forecasting fourth-quarter revenues of $1.4 billion, which was down from analyst expectations of $1.8 billion.
The companuy expects gross margins of 19 percent to 21 percent.
HTC Friday announced its first net loss for a quarter ever last month. The company marked down a $101 million loss on revenue of $1.6 billion.
The news comes as HTC struggles to find its feet in a smartphone market dominated by Samsung and Apple. According to ComScore, HTC's U.S. market share slipped almost a percentage point from the three-month period ending in April at 8.9 percent, to just 8 percent in the the three-month period ending in July.
Aside from flagging device sales, HTC has been plagued by other bad news of late, including delays of its HTC One Mini, possible layoffs and even the prospect that the company be looking to sell itself off.
Shares of HTC were down 7 percent on the news.