HTC has seen its company shares drop a whopping 7 per cent in just a single day, following a revenue forecast cut.

The company said it plans on being in a similar position revenue-wise at the end of 2011 as it was in the previous year. HTC is pointing to increased competition as a reason for the reduced growth, which it had previously forecast to be around 20 or 30 per cent. 

HTC warned back in October that its fourth quarter revenue was beginning to slow. HTC is predicting no growth compared to the same time last year when the company took $104 billion in Taiwanese dollars. 

Some are pointing to a lack of new products to go up against Apple's iPhone 4S in the US. HTC recently announced the Sensation XE and XL, revamped but not redesigned takes on the HTC Sensation. It is also competing against the likes of Samsung in the Android department, no easy task particularly with handsets like the Galaxy Nexus set for release. 

What do you think to HTC's prediction? Deserved or not? Let us know in the comments below...