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The one-time great white hope for pretty Android phones, HTC, has fallen on rough times. The phone that was supposed to help the Taiwanese company recapture its design prowess — the HTC One — is selling poorly, amid competition from the Samsung S6 and the iPhone 6.
HTC had expected revenues between $1.48 billion and $1.56 billion (in U.S. dollars) for the second quarter, but now expects revenues of between $1.06 billion and $1.16 billion.
HTC cited poor sales of high end smartphones, which means the HTC One. The company says its sales in China have been suffering because of the success of premium phones from Xiaomi, Apple, Samsung, and LG.
“In recognition of prevailing market conditions, HTC has embarked on a comprehensive review on our assets based on current business conditions and future operational needs,” the company says in a statement. As a result, HTC took a one-off impairment charge of $9 million U.S. dollars for “idled assets and some prepaid expenses.”