Published in Mobiles

HTC shares plummet over Apple patent dispute

by on16 May 2012

US customs hold up shipments

Shares of Taiwanese smartphone maker HTC have taken a nosedive after US Customs held up shipments of its One X and EVO 4G LTE smartphones.

The shipments were halted for inspection, as HTC was found guilty of infringing Apple patents last year. HTC maintains that it made the necessary changes, but customs officials still need to check whether the phones comply with the ruling.

The issue has caused HTC’s shares to drop 6.6 percent on the Taiwan Stock Exchange. After a couple of quarters of stagnation and poor revenues, this is probably the last thing HTC shareholders wanted to hear.

More here.

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