HTC Shares Slide as Patent Dispute Delays US Shipments
Shares of Taiwan’s HTC have fallen after US customs officials held up shipments of its new smartphones.
In December, HTC was found guilty of infringing a patent held by Apple and there is a ban on the sale of any HTC phones in the US that use technology involving that patent.
The HTC One X is among the world's first quad-core smartphones. (Photo credit: Abe Olandres / TechWireAsia)
HTC said that it had altered its technology and design, but that the shipments still require inspection.
Its shares dropped 6.6% to close at NT$411 on the Taiwan Stock Exchange.
“The US availability of the HTC One X and HTC EVO 4G LTE has been delayed due to a standard US customs review of shipments that is required after an International Trade Commission exclusion order,” the firm said in a statement.
Setback
Last month, it reported that its first quarter net profit had dropped by 70% from a year earlier.
Via BBC News.
READ MORE
- Can Microsoft Security Copilot provide better cybersecurity insights and fix vulnerabilities?
- KPMG: Global economy to grow at a relatively modest pace over the next two years
- Europol: Law enforcement agencies need to be prepared to deal with ChatGPT
- Apple may diversify, but Tim Cook proves that China remains its key market
- Bolstering cybersecurity in Malaysia: Deep observability for cloud environments