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HTC stock drops despite launch of new phone

Publication Date : 21-02-2013

 

HTC shares fell 1.6 per cent yesterday despite the firm's introduction of its new flagship smartphone model that many predicted would find huge market popularity.

The firm Tuesday introduced the new HTC One, which was unveilled simultaneously in London and New York.

The new device sports a 4.7-inch display with full-HD resolution of 1920x1080pixels, a 1.7 gigahertz quad-core processor and a new “UltraPixel” camera that enables ultra-sharp photo shooting and video recording, the company said in a statement.

The Android-powered model also features a cutting-edge audio technology called “HTC BoomSound” that offers dual frontal stereo speakers with built-in amplifiers, which is being used in a mobile phone for the first time, the company said.

Despite the cutting-edge features, foreign investors remained cautious, saying many questions still need to be addressed, for example how much the phone will cost and whether there is enough supply to accommodate 185 mobile operators around the globe.

HTC yesterday surged in the morning yet retreated in the afternoon, closing at NT$277.5, down 1.6 per cent from the previous session.

Seized HTC products returned

HTC Corp. products that were held by Germany's Customs Administration last week have been released, the Taiwanese smartphone manufacturer said Wednesday.

Although HTC has not yet received any written explanation of what happened, German customs officials apparently considered that the border seizure requested by IPCom GmbH & Co., a German patent licensing firm, was “groundless”, HTC said in a statement.

They eventually released the seized HTC products without asking HTC to put up a guarantee deposit, the Taoyuan-based company said.

HTC did not specify which products were seized and whether its sales in Germany would be affected.

Separately, shares in Taiwan closed above the 8,000-point mark yesterday on futures-led buying as investors pushed up share prices in the spot market in a bid to lock in profits in the futures market, dealers said.

The weighted index ended up 68.22 points, or 0.85 per cent, at the day's high of 8,029.10, off an early low of 7,995.16, on turnover of NT$98.79 billion.

US$1 = NT$29.60

 

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