HTC sales down due to inferior products, Citigroup says

HTC has slashed its guidance for the fourth quarter, with Citigroup analysts saying the move is now driven by the release of “inferior products”. According to a research note, and reported by Bloomberg, analysts Kevin Chang and Jonathon Gu wrote the move is “driven more by inferior product than by macro reasons”. “We are […]

Patrick Stafford 28 November, 2011

HTC has slashed its guidance for the fourth quarter, with Citigroup analysts saying the move is now driven by the release of “inferior products”.

According to a research note, and reported by Bloomberg, analysts Kevin Chang and Jonathon Gu wrote the move is “driven more by inferior product than by macro reasons”.

“We are most surprised by the lack of visibility and by how fast things deteriorate in the smartphone business,” they said.

HTC has cut its forecasts for revenue by 23%, as competition increases against Samsung, Apple, and other manufacturers.

HTC has been one of the world’s largest manufacturers of smartphones powered by the Android platform.