Taiwan's HTC Corp, the world's fifth-largest smartphone maker, said its third-quarter net profit fell 79 percent, missing forecasts, as its flagship phones failed to keep pace with the Apple Inc's iPhone and Samsung Electronics Co Ltd's Galaxy range.
Unaudited July-September net profit was T$3.9 billion ($133.17 million), the company said, down from T$18.68 billion in the same period a year earlier and T$7.4 billion in the previous quarter. The company did not elaborate.
Earnings had been expected to drop to T$5.57 billion, according to a Thomson Reuters I/B/E/S survey of 21 analysts.
Third-quarter revenue was T$70.2 billion. The company said in August it expected its third-quarter revenue to be T$70 billion to T$80 billion, compared to T$91 billion in the second quarter.
HTC shares closed down 0.86 percent at T$287 before the earnings release, while the broader market fell 0.97 percent.
(Reporting by Clare Jim; Editing by Matt Driskill)