HTC sees its shares tumble 60%

HTC sees its shares tumble 60%

HTC shares have fallen by 60% in the last year.

It pushes the company's market value below its cash on hand, meaning that investors believe that the electronics brandname, stock of merchandise, and factories are worthless.

The company has a market value of $1.5bn - down from a valuation of $2.8bn in 2011.

After being one of the main benefactors of Apple's misfiring iPhone 5, HTC gained significant marketshare in markets across Europe and the US.

Now as Apple's iPhone 6 dominates the top end of the market, and new competitors squeeze entry-level and mid-spec margins, HTC faces an uncertain future.

Third quarter sales look like they will be almost 50% below previous expectations.

Revenues fell by 35% in the last quarter.

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