HTC Q1 Net Profit Declines 70%

HTC Corp

posted a decline in its quarterly profit. HTC's unaudited net profit for the three months ended March 31 dropped to NT$4.46 billion (US$151 million), versus NT$14.83 billion, in the year-ago period. HTC's revenue in the first quarter fell 35% to NT$67.79 billion from NT$104.16 billion, versus its earlier forecast of NT$65 billion to NT$70 billion.