Shares of smartphone maker HTC fell on the Taiwan Stock Exchange

Its shares dipped as much as 6.8% to 545 New Taiwan bucks. On Friday, the firm said internet financial gain for your 1st three months of year fell 70% from a 12 months previously to NT$4.46bn ($151m; £95m). The figures occur because the organization faces increasing competitors from rivals for example Samsung and Apple. HTC also noted a 35% drop in profits for your period of time. Analysts mentioned the weak results had elevated issues about the effect of increasing opposition around the firm's potential progress.

 "They have been ambushed by very robust competitors within a very short time frame," Andrew Milroy of Frost & Sullivan told the BBC. "They are in the middle of a really fast-paced market and they haven't responded quite as well to the opposition." HTC, which used to be a contract electronics manufacturer, started making phones under its own brand just five years ago. The firm made rapid progress and was one of the early market leaders in the Android sector. It gained valuable share in key markets like the US, and at one time was the world's third-largest mobile phone maker.
 

However, the company failed to hold on to its dominant position and has been losing ground to other Android phone makers, as well as Apple's iPhone. The organization is launching a new series of phones, dubbed HTC One, in a bid to regain its market share.  Analysts stated that even though the company had suffered a setback, it experienced a good chance to bounce back. "They are in the right sector. The Android market is growing and they have the expertise to be able to make a comeback," mentioned Frost & Sullivan's Mr Milroy.