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Compared to its previous forecast of 10 percent growth this year, HTC now expects its revenue to fall as a result of decline in unit shipments and delays in the launch of new products. "Our momentum in the second half of this year may not be as strong as we initially thought it would be," HTC's Chief Executive Peter Chou said during a call with analysts.

The Taiwanese handset maker also said that the performance of its Windows Mobile and Android powered handsets is weaker than what was expected. Other than facing keen competition from smartphone rivals like Apple, Nokia, Motorola and Sony Ericsson are also posing increasing threats to HTC, as both are moving in on its territory by producing phones based on Google’s Android operating system. This will challenge HTC’s position as the top Android phone manufacturer in the world in terms of shipments.

Additionally, with the entry of PC maker Acer into the smartphone battle, many analysts predict smartphone makers, including HTC, Research In Motion and Nokia, will be under pressure in their profit margin.

Despite the intense condition in the smartphone sector, HTC is still planning on retrieving the situation. Following its Android-based smartphones G1, MyTouch 3G, and the newly released HTC Hero in June, it will also increase the number of new mid-tier smartphones to be released this year. Meanwhile, to compete against strong rivals such as Apple's iPhone, HTC will raise its operating budget this year from 13.5 percent to above 15 percent to embarks on an expanded marketing campaign.

HTC expects its third-quarter revenue to fall somewhere in the NT$34 billion and NT$36 billion range, which is down from NT$37.86 billion in the same quarter last year.