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Feb 04, 2013, 05.12 PM IST | Source: Reuters

HTC plans cheaper phones for China as revenue sags

HTC-OUTLOOK:HTC plans cheaper phones for China as revenue sags

By Clare Jim

TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp <2498.TW> will shift its focus more towards emerging markets and offer lower priced phones in China this year as it grapples with slumping revenue in the shadow of Apple's iPhone and Samsung's Galaxy series.

HTC gave a disappointing outlook on Monday for first-quarter revenue, saying it would be flat to 17 percent lower than in the previous three months - worse than analysts had forecast - while margins are also seen holding steady or shrinking.

The former contract manufacturer's fortunes have been declining sharply since the second half of 2011, as the growing global dominance of Apple Inc

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