Shares in Taiwan's HTC up by daily limit on Apple deal

November 12, 2012

Shares in Taiwan's leading smartphone maker HTC surged by their daily 7.0 percent limit Monday after it announced it had reached a global patent settlement with US technology giant Apple.

HTC climbed to Tw$241.5 ($8.33) as dealers welcomed the weekend deal with the maker which ends all outstanding litigation between the two companies. It closed at the same price.

"Investors will feel one of the uncertainties shadowing HTC has been removed," said Chen Yu-yu of Capital Securities.

Analysts said the launch of HTC's first cellphone with a 5.0-inch screen—scheduled for Tuesday in the United States—fuelled buying sentiment.

Sunday's 10-year comes at an important time for HTC as it is hit by competition from Apple and South Korea's Samsung.

Technology giants have routinely pounded each other with patent lawsuits. Apple had accused HTC and other smartphone makers that use 's mobile operating system of infringing its patents.

But Chen said it remained to be seen how the legal deal with Apple would help lift HTC's revenues.

HTC last month said net profit in the July-September quarter tumbled 79.1 percent from a year earlier to Tw$3.9 billion ($133.1 million).

Revenues totalled Tw$70.2 billion, on the lower side of the Tw$70 billion-Tw$80 billion range it had previously forecast and down 48 percent from the same period a year earlier.

Explore further: Taiwan's HTC rejects fresh Apple patent claim

Related Stories

Taiwan's HTC expects 30 percent sales plunge in 1Q

February 6, 2012

Taiwan's leading smartphone maker HTC forecast Monday that its revenue in the three months to March may plunge 30 percent from a year ago, as competitors Apple and Samsung take their grip on the market.

HTC and Apple reach global settlement

November 11, 2012

Taiwan's leading smartphone maker HTC said Sunday it has reached a global settlement with technology giant Apple, bringing an end to all outstanding litigation between the two companies.

Recommended for you

Toyota promises better mileage and ride with Prius hybrid

October 13, 2015

Toyota Motor Corp. released details for its fourth-generation Prius on Tuesday, promising that improvements in the battery, engine, wind resistance and weight mean better mileage for the world's top-selling hybrid car.

Facebook to test mobile app shopping tab

October 12, 2015

Facebook said Monday that it will begin testing a shopping tab for its mobile app as it works to ramp up advertising and online commerce offerings.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.