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HTC are blaming the economy and too much competition for their “low sales” despite selling over 13 million smartphones in the third quarter of 2011.

The smartphone manufacturer has cut its expected revenue for the fourth quarter of 2011 by 20 percent after few devices than expected were sold.

This news comes in the lead up to Christmas, in which shoppers go crazy purchasing discounted products and an insane amount of electrical goods, but HTC don’t expect any extra sales over the Christmas period.

Are you hoping for a new smartphone this Christmas? If so, which one would you opt for? Let us know in the comments section below.

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