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HTC growth stalls, Q4 sales forecast cut by 23 percent

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HTC Rezound
HTC Rezound

It looks like HTC's explosive growth over the last six quarters is coming to an end. Due to strong competition from Samsung and Apple (as well as the global economic downturn), HTC has cut its sales forecast for the fourth quarter by 23 percent, with the company now predicting revenues that will match last year's performance. While it hasn't been the best week for the number one smartphone maker in the US, six consecutive quarters of growth represents a tremendous success for a brand that had a fairly minimal US presence less than three years ago.