HTC posts disastrous Q4 as profit hits 8-year low

BGR writes, The fourth quarter typically gives consumer electronics companies a big boost each year thanks to the holiday shopping rush, but stiff competition and weak marketing efforts from HTC (2498) resulted in a disastrous December quarter. The Taiwan-based smartphone maker on Monday reported fourth-quarter profit of just NT$1 billion ($34.5 million) — its lowest quarterly profit since 2004 — on NT$60 billion ($2.69 billion) in sales. The company’s net profit fell 91% year-over-year and missed analysts’ NT$1.48 billion consensus by a wide margin. HTC CEO Peter Chou recently acknowledged some…

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