Summary Box: HTC 4Q profits fall 26 pct

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THE NUMBERS: Taiwan smartphone maker HTC Corp. says profits dropped 26 percent in the last three months of last year.

BEHIND THE RESULTS: The weak global economy and intense competition hurt sales. The company says several newly introduced 4G and other high-end smartphones disappointed as competition grew more intense from Apple Inc. and South Korea’s Samsung Electronics Co.

PREDICTIONS: The company believes revenue will drop further in the current quarter but should return to normal after that with the introduction of several new models.