HTC sues Citigroup in Taiwan

TAIPEI: HTC Corp, the world's No.4 smartphone maker, has submitted a criminal complaint Taiwan unit of Citigroup Inc., which published the data from the bank, which is diminishing the share price HTC, Taiwan, the prosecutor said.

HTC, a rapid increase in the cut-throat mobile phone industry and the investor was a darling to the beginning of this year, has lost much of its luster in recent weeks for its models struggle to compete with Apple Inc's iPhone and Samsung Electronics Co., Ltd. is in the range of the Galaxy.

All the parts are dropped from a high of $ 39.72 in April to as low as S $ 403 earlier this month. HTC has twice cut its earnings forecast for the recently stoking investor concern about its future profits.

"HTC presented its case in August and we have been in the process of handling," said Huang Mou-hsin, deputy chief prosecutor at the Prosecutor's Office in Taipei. "Citi Global Markets HTC sued for violation of the law of the exchange transaction," .he said, declining to specify

HTC declined to confirm or deny the appeal, saying that, did not comment on the case. Citi Global Markets Taiwan officials had no immediate comment.

Taiwan newspapers reported on Tuesday that Citi had run out of time and the HTC settlement, as prosecutors had been involved in

"HTC will use the case as a gesture to say her outlook is not as bad as the report noted that research, and to ask for foreign analysts to remain silent, or at least a bit of a low-profile," said KH Lin, vice president of the fund unit Yuantai Financial Holding Co., Ltd.

"Long-term investors, HTC is probably not a good buy. We are very concerned about the future thanks to the HTC patents against Apple and others. The lack of a powerful pool of patents for the most vulnerable part of the HTC and other companies in Taiwan."

HTC is fighting legal battles on several fronts, and face a very important decision for a patent in the United States on Wednesday arch-rival Apple that could lead to a ban on HTC phones sold in the United States.

The suit is seen as a proxy fight for larger market share of Google Inc. Android mobile phones and tablets, many of which makes the HTC, and Apple's product line.

Samsung, which makes it similar to the Android products are locked in a court fight with Apple.

International Trade Commission, the U.S. trade panel to investigate patent infringement involving imported goods shall give its decision on Wednesday.

HTC's shares up 2.5 per cent in early trading Tuesday T $ 426.50.

"The increase is due to the current share price is too low and estimates are under way," said PGI Securities analyst Richard Ko Taipei. "The price already reflects the risk of future judicial decisions."

Article Source:- http://timesofindia.indiatimes.com/tech/news/hardware/HTC-sues-Citigroup-in-Taiwan/articleshow/11090794.cms