(AP) Taiwan smartphone maker HTC Corp. has cut its second quarter revenue forecast by 13 percent after a patent dispute with Apple Inc. led to a delay in shipments.
HTC cut its April-June forecast to NT$91 billion ($3 billion) revenue. It said late Wednesday shipments to Europe also fell short because of the deepening debt crisis there.
The company's first quarter revenue dropped 35 percent from the previous year amid ever growing competition from Apple Inc. and South Korea's Samsung Electronics Co.
HTC had hoped the April launch of its "HTC One" phone could help boost revenue. The model offers users a better camera and music experience.
But phone shipments were held up by U.S. customs for two weeks last month before HTC was cleared of patent infringements.
Explore further: Alibaba surges in Wall Street debut (Update)