HTC Corp. declined to comment on a BBC report earlier this week about the Taiwan-based company alleged decision to stop selling its latest models in the U.K. amid patent disputes.
Investors have reacted negatively to the news though.
Beyond the patent dispute, investors were disappointed by July sales. The company experienced a nearly 70 percent month-on-month plunge in sales last month which sent shares tumbling almost 8 percent.
The July figure was the lowest since HTC listed on Taiwan’s stock market in March 2002.
Still, HTC confirmed that it has been accused of infringing on patents in the U.K. The company has been long involved in a patent dispute with IPcom, a Germany-based IP licensing company, over a wireless technology developed for car phones.
Analysts said HTC has been unable to find a niche for its products in the fiercely competitive global smartphone market, and its VR business has not been able to make up for the slumping phone sales.