Hanvon Technology, the largest China-based vendor of e-book readers, has estimated a net loss of CNY165-175 million (US$25.5-27.0 million) for its operations in the first half of 2011, according to the company.

The net loss was attributable to a large decrease in revenue due to reduction in sales prices by as much as 40% for market competition, decreased inventory value by CNY30-40 million due to price cuts, and increased R&D costs, Hanvon pointed out.

Source:Digitimes