Reuters: Technology News: HTC says cuts Q2 sales target by 13.3 percent

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HTC says cuts Q2 sales target by 13.3 percent Jun 6th 2012, 11:29 TAIPEI | Wed Jun 6, 2012 7:29am EDT TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp cut its second-quarter revenue target by 13.3 percent to T$91 billion ($3.03 billion) on Wednesday, and operating margin by 2 percentage point to 9 percent. HTC said in a statement the cut was due to a lower-than-expected sales in Europe and the U.S., and a one-time write off of the previous year's inventory. HTC said earlier on Wednesday that consolidated sales for May were T$30 billion, down 26.13 percent from the same month a year earlier. The company originally forecast in April that its second-quarter revenue would be T$105 billion compared to T$67.79 billion in the first quarter.

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