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Smartphone maker HTC posts profit slump

 

Taiwan's HTC has reported a third consecutive drop in quarterly profit as competition in the smartphone market intensifies.

HTC said on Friday that profit dropped 58 per cent to 7.4 billion New Taiwan dollars ($A238 million) from revenue of NT$91 billion in the three months to the end of June.

It reported a 70 per cent drop in the first quarter and a 26 per cent drop in the final quarter last year.

HTC has grown on the strength of the design of its handsets, based on Google's Android operating system.

But its sales have fallen sharply in a global market increasingly dominated by Apple and Samsung.