Taiwanese manufacturer HTC has seen its share-price drop 7% – the maximum permissible for a single day – following a 20% slashing of its revenue predictions for the fourth quarter of 2011.
Despite announcing sales of 13.2 million handsets in Q3, HTC isn't expecting any growth year on year in the traditionally profitable run up to Christmas.
Commentators are suggesting the slump in sales is down to a lack of new HTC products to take on the iPhone 4S and Samsung Galaxy Nexus in the Android corner. The most recent handsets from HTC have been the Sensation XE and XL, both revamped versions of the Sensation rather than truly new handsets.
The current share price is the company's lowest in 16 months.