HTC Posts A 70% Profit Drop

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Smartphone manufacturer HTC has posted a 70% profit drop amidst serious competition, reports the AP.

Revenue is down 35% from last year to $2.3 billion, and the company only made $152 million in profit on that.

The company is currently marketing the “HTC One,” which it hopes will help get the company back on track to stay competitive with Apple and Samsung.

“We simply dropped the ball on products in the fourth quarter,” said CFO Winston Yung.

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