HONGKONG -- HTC, a Taiwanese smartphone maker, extended a losing streak on Thursday, plummeting to 63 Taiwan dollars (US$2.09) at one point, down T$5.5, or 8.02%, from Wednesday. It was the stock's lowest level in about 2 and a half weeks. It finished at T$64, down 6.56%. The tumble is attributable to a 54% year-on-year fall in August group sales to T$3 billion. The disappointing results, announced on Wednesday after the marked had closed, triggered heavy selling.
Stocks
Taiwan HTC down 8% as August sales plunge
New smartphone fails to shine as group sales take a 54% dive
Vive, HTC's virtual reality system, so far has been a drain on the company's finances.
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