Bloomberg News

HTC Falls for Second Day in Taipei After Apple Patent Case

July 13, 2011

July 13 (Bloomberg) -- HTC Corp. shares fell for a second day after Asia’s second-largest maker of smartphones was accused of infringing Apple Inc. patents in a case that may halt U.S. imports of the Taiwanese company’s phones and its new Flyer tablet computers.

The stock dropped 5.9 percent to NT$861, set for the lowest close since Jan. 14, extending yesterday’s 6.9 percent loss. HTC continues to “vehemently deny” all of Apple’s past and present claims against it and will continue to protect and defend its own intellectual property, said Grace Lei, HTC’s general counsel. UBS AG said in a report dated yesterday it estimated “downside impact” to the company’s earnings from declining European handset demand, according to the report by analyst Arthur Hsieh. He maintained the share at “buy.”

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Richard Frost at rfrost4@bloomberg.net


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