HTC posts record profit and sales

Posted on Sunday, April 10 2011 @ 21:35 CEST by Thomas De Maesschalck

Bloomberg reports HTC posted record quarterly profit and sales on booming demand for its smartphones. The company's sales more than doubled and first-quarter profit almost tripled:

HTC Corp. (2498), the Taiwanese company which overtook Nokia Oyj this week as the world’s third-largest phonemaker by market value, posted record quarterly profit and sales on demand for smartphones.

Net income almost tripled to NT$14.8 billion ($513 million) in the first quarter from NT$5 billion a year earlier, the Taoyuan, Taiwan-based company said in a statement today. That was higher than the NT$12.8 billion average of 18 analyst estimates compiled by Bloomberg.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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