- TAIPEI: Taiwan smartphone maker HTC Corp.
- has reported a 70 percent drop in first quarter profit as it faces keener competition from Apple Inc.
HTC said profit amounted to 4.5 billion New Taiwan dollars ($152 million) from revenue of NT$68 billion in the three months through March.
Revenue was down 35 percent from a year earlier.
The company expects revenue to rise to NT$105 billion in the second quarter, with the marketing of the "HTC One" series phone that offers users a better camera and music experience in addition to a sleek design.
HTC has grown on the strength of the design of its handsets, based on Google's Android operating system.