January 6, 2012 / 7:15 AM / 8 years ago

Taiwan's HTC Q4 net lags forecast amid tough competition

TAIPEI, Jan 6 (Reuters) - Taiwanese smartphone maker HTC Corp’s net profit fell 25.5 percent in the fourth quarter, lagging market expectations, as its models scrambled to compete with Apple Inc’s iPhones and Samsung’s Galaxy range.

The world’s No.4 smartphone maker’s unaudited net profit in the quarter was T$11.02 billion ($364.26 million), compared to T$14.80 billion a year earlier and T$18.68 billion in the previous quarter, it said on Friday.

A poll by Thomson Reuters I/B/E/S of 18 analysts had yielded a median forecast of a profit of T$13.33 billion.

Consolidated sales for December were T$26.36 billion, down 20.3 percent from the same month a year earlier.

Net profit for the full year of 2011 was however up 57 percent from 2010 to T$62.05 billion.

It did not give any details in a brief statement.

The erstwhile investor darling shocked markets in November by slashing its fourth-quarter revenue guidance, sending its shares down 28 percent in two weeks and 15 percent to date.

On Friday ahead of the result announcement, HTC closed down 0.72 percent at T$482. ($1 = 30.2530 Taiwan dollars) (Reporting by Clare Jim; Editing by Jonathan Standing)

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