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Taiwan's Acer squeezed by shrinking PC market

TAIPEI -- Acer's group net profit plunged 64% in October-December 2015 as the global PC market contracted.

     The Taiwanese personal computer maker netted 237 million New Taiwan dollars ($7.25 million) during the quarter. Sales fell 20% to NT$68.3 billion.

     Full-year performance was similarly dim, with net profit tumbling 66% to NT$604 million and sales slipping 20% to NT$263.7 billion. The company's PC shipments slid 18.1% to 19.68 million units in 2015, according to U.S. research firm IDC. Cuts to product offerings amid restructuring weighed on earnings as well. Apple's surge knocked Acer to fifth place in terms of global market share at 7.1%.

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