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HTC expects sales decline

Asia's second-largest smartphone maker, HTC Corp has forecast a record drop in sales amid continued market share declines, Bloomberg has reported. Third-quarter revenue will be $2.3bn to $2.6bn, the Taiwan-based company said. Competition from Apple Inc. and Samsung Electronics Co has forced the maker of HTC One, Sensation and Desire handsets to cut its workforce to shore up profitability amid declining revenue. "They're going to face a lot of pressure because their high-end models are facing a lot of competition," Aaron Jeng, who rates the stock reduce at Nomura Holdings Inc. in Taipei, said before the earnings announcement. "HTC's top-line sales are declining so they need to cut expenses to help improve their bottom-line profit."