HTC Chops Q2 Forecast

A worrisome warning from HTC: The Taiwanese smartphone maker on Wednesday slashed its second-quarter forecast by 13.3 percent. The reason: Weaker-than-expected sales in Europe, and delayed shipments of some products in the U.S., caused by its ongoing patent dispute with Apple. In a terse statement, HTC said that it now expects revenue for the second quarter to be around $3.04 billion, down from a previous forecast of $3.51 billion. This is the second time in three quarters that HTC has trimmed its guidance.