HTC Profit Falls 79 Percent Amid Competition

HTC Corp. on Monday reported its lowest quarterly profit since 2006 as it continued to lose market share to its competitors.

The Taoyuan-based company, which has been steadily losing ground against Apple Inc. and Samsung Electronics Co. in the lucrative market for smartphones, said in a statement that its third-quarter net profit was 3.9 billion New Taiwan dollars ($133 million), a sharp 79 percent fall from NT$18.64 billion a year earlier.

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