Taiwan's HTC shares tumble after 2Q guidance cut

[Wireless News]

http://l3.yimg.com/bt/api/res/1.2/tx5ywoung0rRraP5BEtUcg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/afp.com/3de37780a4960d80e49b4f746ec626abd5a6852f.jpg (http://news.yahoo.com/taiwans-htc-shares-tumble-2q-guidance-cut-083047459--finance.html)Shares in Taiwan's struggling smartphone maker HTC tumbled to their lowest level in more than a decade Monday after the company forecast its biggest-ever quarterly loss owing to weaker-than-expected demand from China. HTC revised its second quarter guidance late on Friday, with sales predicted to slide to Tw$33 billion-Tw$36 billion ($1.06 billion-$1.16 billion), down sharply from the previous forecast range of Tw$46 billion-Tw$51 billion. HTC also wrote off Tw$2.9 billion in idle assets and prepaid expenses, it announced on Friday.



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