HTC fourth-quarter profit below expectations

Taiwanese Smartphone maker HTC reported a worse than expected net fourth-quarter profit on Sunday, despite aggressive cut and a one-time gain.

The company reportable internet profit of T$0.3 billion ($10 million), compared to a internet loss of T$2.97 billion ($99.9 million) within the previous quarter and profit of T$1.01 billion ($34 million) within the same quarter of 2012.

The figure lags expected internet profit of T$721.71 million ($24.3 million), according to Thomson Reuters I/B/E/S.

The number highlights however quickly issues have congregated at a corporation that simply over 2 years past provided one in each
10 smart phones sold round the world.

The company, that has lost nearly fractional of its market price within the last 2 years, is currently value concerning $4 billion, dwarfed by rivals like Apple and Samsung Electronics Co Ltd.

New management put in within the half-moon to tackle that slide should persuade customers the complete will still signify trendy, feature-loaded phones, whereas keeping a lid on development prices.

Despite its latest flagship product, the HTC One, garnering rave reviews, the company's world share of the Smartphone market has declined to a mere two.2 % within the third quarter of two013 from a peak of ten.3 %within the third quarter of 2011, data from research firm Gartner show.

While the company's recent "Here's To Change" campaign has seen an advertising revamp featuring "Iron Man" star Robert Downey Jr., analysts stay skeptical concerning the firm's ability to differentiate its complete image in a very highly-saturated enjoying field.

The company has launched into a cost-cutting campaign that features shopping for its chips from cheaper vendors and outsourcing production. It conjointly sold its stake in earpiece complete Beats Electronics LLC, booking a one-time pre-tax profit of T$2.5 billion ($85 million), which might be recorded within the fourth quarter.

Shuttered factories, a wave of executive departures and top-level reshuffling are symptoms of what industry insiders see because the company's biggest problem: connecting with consumers.

Self-driving car sales to reach 11.8 mln by 2035

Sales of vehicles in a position to drive them can account for concerning nine % of international motor vehicle sales in concerning 2 decades, according to a forecast revealed on Tuesday by motor vehicle trade adviser IHS Automotive.

The study centered on autonomous cars, that will drive with "no attention required by the driver," IHS analyst Egil Juliussen aforesaid. Such cars don't seem to be presently out there available, however IHS predicts they're going to be out there around 2025.

IHS expects global sales of self-driving cars in 2025 to be 230,000 -- but 1 percent of the 115 million cars expected to be sold that year.

But by 2035, sales of self-driving cars can reach eleven.8 million, or nine % of the 129 million international motor vehicle sales expected that year, aforesaid Juliussen.

Most of these sales will be in well-established auto markets like the United States, Western Europe and Japan.

The pace of growth for self-driving cars will exceed that of electric cars that have been hobbled by the high value of batteries Juliussen said.