以下是憂考網(wǎng)英語資源頻道為大家整理的china daily雙語新聞：HTC前景依然坎坷，小編給大家拜年啦 蛇年大吉大利萬事如意:)
A steady ascent can be followed by a rapid decline. Peter Chou, chief executive of HTC, knows that only too well. Earnings at his Taiwanese mobile phone company grew more than fivefold in the six years before 2011. But yesterday, when HTC reported results for the fourth quarter of 2012, it announced the lowest quarterly net income since 2004. That puts full-year earnings on track for a three-quarters drop from their peak in 2011. The question is why HTC’s shares have rallied by a half over the past two months.
一段時間的穩(wěn)步上升之后，隨之而來的可能是迅速下跌。HTC執(zhí)行長周永明(Peter Chou)對此深有體會。他領(lǐng)導(dǎo)的這家臺灣手機(jī)企業(yè)的凈利潤在2005年至2011年這6年間增長逾4倍。但在昨日，HTC發(fā)布了2012年第四季度季報，宣布這是自2004年以來凈利潤最低的一個季度。這意味著，HTC的全年凈利潤在2011年達(dá)到峰值以后，連續(xù)第三個季度出現(xiàn)下跌。問題是，為什么HTC的股價在過去兩個月中累計上漲50%呢？
Perhaps investors, fatigued by HTC’s continued fall, have jumped in on snippets of good news. The company is about to launch two big-screen smartphones. And in November, it finally settled more than 12 lawsuits with Apple– the companies have now signed 10-year licensing agreements for each others’ patents. The hope is that legal expenses should ease and HTC’s US performance should improve. US operators have been avoiding the group because of the legal risk and its market share in the country has halved over the past year.
或許，投資者厭倦了HTC利潤的持續(xù)下跌，因此只要有只言片語的利好消息，就急忙出手了。HTC即將推出兩款大屏智能手機(jī)。去年11月，HTC與蘋果(Apple)的逾12項法律訴訟最終達(dá)成和解。兩家公司現(xiàn)在簽署了為期10年的專利交叉授權(quán)協(xié)議。人們希望，HTC將免于背負(fù)沉重的法律費用，在美國的業(yè)績也會改善。美國各運營商由于擔(dān)心法律風(fēng)險，一直避免與HTC合作，HTC過去一年間在美國的市場份額也減少了一半。
Yet that good news looks more than priced in. HTC’s shares have historically picked up less than a fifth in the three months ahead of new launches. And its agreement with Apple could drive up royalty fees. Nomura notes that it can cost as much as $24 per unit on an Android smartphone to use some of Apple’s patented technologies – something that HTC can ill-afford. The operating margin plummeted to 1 per cent in the fourth quarter from 13 per cent a year ago and remains well below Apple’s 30 per cent.
然而HTC的股價對這個利好消息的反應(yīng)似乎有些過度。HTC以往每次發(fā)布新產(chǎn)品前的3個月里，股價累計上漲幅度不超過五分之一。另外，HTC與蘋果簽署的專利交叉授權(quán)協(xié)議可能會提高其專利費用。野村證券(Nomura)指出，如果安卓(Android)智能手機(jī)使用一些蘋果專利技術(shù)的話，每臺設(shè)備的成本最多可能增加24美元，這對HTC將是一項沉重的負(fù)擔(dān)。去年第四季度，HTC的營業(yè)利潤率已經(jīng)從一年前的13%跌至1%，遠(yuǎn)低于蘋果的30%。
Even after any boost from new products, HTC still fits within the commodity smartphone bracket. This is most stark in Asia (a third of unit sales) where local competition has pushed HTC’s market position from fourth to seventh in just over a year.
然而，即便即將發(fā)布的新產(chǎn)品對股價有任何提振作用，HTC依然屬于智能手機(jī)中的“大路貨”品牌。這一點在亞洲市場（占HTC總銷量的三分之一）體現(xiàn)得最為明顯——來自本土品牌的激烈競爭，使HTC在該地區(qū)的市場份額排名在僅一年多的時間里便從第4名降至第7名。
HTC is not on a level footing yet.
HTC前景依然坎坷。
A steady ascent can be followed by a rapid decline. Peter Chou, chief executive of HTC, knows that only too well. Earnings at his Taiwanese mobile phone company grew more than fivefold in the six years before 2011. But yesterday, when HTC reported results for the fourth quarter of 2012, it announced the lowest quarterly net income since 2004. That puts full-year earnings on track for a three-quarters drop from their peak in 2011. The question is why HTC’s shares have rallied by a half over the past two months.
一段時間的穩(wěn)步上升之后，隨之而來的可能是迅速下跌。HTC執(zhí)行長周永明(Peter Chou)對此深有體會。他領(lǐng)導(dǎo)的這家臺灣手機(jī)企業(yè)的凈利潤在2005年至2011年這6年間增長逾4倍。但在昨日，HTC發(fā)布了2012年第四季度季報，宣布這是自2004年以來凈利潤最低的一個季度。這意味著，HTC的全年凈利潤在2011年達(dá)到峰值以后，連續(xù)第三個季度出現(xiàn)下跌。問題是，為什么HTC的股價在過去兩個月中累計上漲50%呢？
Perhaps investors, fatigued by HTC’s continued fall, have jumped in on snippets of good news. The company is about to launch two big-screen smartphones. And in November, it finally settled more than 12 lawsuits with Apple– the companies have now signed 10-year licensing agreements for each others’ patents. The hope is that legal expenses should ease and HTC’s US performance should improve. US operators have been avoiding the group because of the legal risk and its market share in the country has halved over the past year.
或許，投資者厭倦了HTC利潤的持續(xù)下跌，因此只要有只言片語的利好消息，就急忙出手了。HTC即將推出兩款大屏智能手機(jī)。去年11月，HTC與蘋果(Apple)的逾12項法律訴訟最終達(dá)成和解。兩家公司現(xiàn)在簽署了為期10年的專利交叉授權(quán)協(xié)議。人們希望，HTC將免于背負(fù)沉重的法律費用，在美國的業(yè)績也會改善。美國各運營商由于擔(dān)心法律風(fēng)險，一直避免與HTC合作，HTC過去一年間在美國的市場份額也減少了一半。
Yet that good news looks more than priced in. HTC’s shares have historically picked up less than a fifth in the three months ahead of new launches. And its agreement with Apple could drive up royalty fees. Nomura notes that it can cost as much as $24 per unit on an Android smartphone to use some of Apple’s patented technologies – something that HTC can ill-afford. The operating margin plummeted to 1 per cent in the fourth quarter from 13 per cent a year ago and remains well below Apple’s 30 per cent.
然而HTC的股價對這個利好消息的反應(yīng)似乎有些過度。HTC以往每次發(fā)布新產(chǎn)品前的3個月里，股價累計上漲幅度不超過五分之一。另外，HTC與蘋果簽署的專利交叉授權(quán)協(xié)議可能會提高其專利費用。野村證券(Nomura)指出，如果安卓(Android)智能手機(jī)使用一些蘋果專利技術(shù)的話，每臺設(shè)備的成本最多可能增加24美元，這對HTC將是一項沉重的負(fù)擔(dān)。去年第四季度，HTC的營業(yè)利潤率已經(jīng)從一年前的13%跌至1%，遠(yuǎn)低于蘋果的30%。
Even after any boost from new products, HTC still fits within the commodity smartphone bracket. This is most stark in Asia (a third of unit sales) where local competition has pushed HTC’s market position from fourth to seventh in just over a year.
然而，即便即將發(fā)布的新產(chǎn)品對股價有任何提振作用，HTC依然屬于智能手機(jī)中的“大路貨”品牌。這一點在亞洲市場（占HTC總銷量的三分之一）體現(xiàn)得最為明顯——來自本土品牌的激烈競爭，使HTC在該地區(qū)的市場份額排名在僅一年多的時間里便從第4名降至第7名。
HTC is not on a level footing yet.
HTC前景依然坎坷。