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Taiwan's HTC says profit down 30 percent

Taiwan's smartphone maker HTC Corp posted a year-on-year 30 percent fall in first quarter net profit as the global economic meltdown hit sales, the company said Monday.

In the January-March period, HTC's net profit fell to 4.89 billion Taiwan dollars (147 million US) from 6.95 billion dollars a year earlier.

HTC's earnings per share have almost halved to 6.56 dollars from 12.12 dollars a year ago.

The company posted 31.59 billion dollars in revenue in the first quarter, a 3.4 percent drop from the 32.70 billion dollars recorded a year ago.

(c) 2009 AFP