HTC shares spike nearly 6.5 percent due to HTC J launch in Taiwan
If you didn’t already know, Apple is expected to unveil the iPhone 5 in a few short hours. It’s hard to say if we’ll be seeing any HTC rumors peak through to try to steal the spotlight away, but we do have a bit of news which seems to show that not everyone is focusing solely on the iPhone today.
As soon as the Taiwan Stock Market opened this morning, HTC’s stock price jumped by 4 percent and has been steadily climbing through the day, peaking at 6.45 percent before the market closed. The reason for the sudden spike is due to the launch of the HTC J in Taiwan which has apparently been a huge success in Japan. The HTC J, a modified version of the HTC One S, launched in Japan in May and quickly because the number one selling phone on KDDI, accounting for double digit share of the carrier’s smartphone sales.
“The current buying in HTC shares reflected market expectations that HTC will be able to repeat its success in the Japanese market in Taiwan and in other markets in Asia,” said Horizon Securities analyst Benson Huang.
HTC is expecting the HTC J to be a key drives in sales growth across Northern Asia and was hoping it could gain some momentum before the iPhone 5 launch reaches the Asian Pacific rim since some investors predict Apple will need to limit the initial launch of the iPhone 5 to North America due to low yield rates of the new display’s being used.
Source: Focus Taiwan