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HTC Post Record Profits For Q2 2011

HTC last week, posted record profits for Q2 2011.  The company announced profits in the second quarter of 2011 were over double of that posted on the same period last year.

Although it wasn't all good news for the Taiwanese giant as a day later HTC shares fell by 6.86% with the main share index falling by 0.57%.

The smartphone market is expected to slow from 60% in 2011 to 20-25% in 2012 given, amongst other reasons, saturation in the US market, according to Citi Group forecasts.  This together with questions over corporate governance after the company announced plans to take over S3 Graphics (now complete for $300M) forced investors to look beyond the record quarterly net profits posted previously.

Reuters reported HTC's share price fall pulled the communications index down 2.62%.

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