HTC Profit Almost Doubles on Smartphone Sales
Phone manufacturer HTC Corp. (HTCXF) almost doubled quarterly profited as demand for smartphones surged.
Third-quarter profit jumped to NT$11.1 billion ($360 million) from NT$5.7 billion a year earlier, Bloomberg News reported. The Taiwanese company easily beat the NT$9.2 billion forecast by analysts surveyed by Bloomberg.
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Sales more than doubled from the third quarter of 2009, as customers snapped up phones that use Google's (GOOG) Android platform.
"HTC will be a key beneficiary of the robust smartphone up-cycle, growing popularity of Android, and Microsoft's strong push of WP7," Jeff Pu, an analyst at Fubon Financial Holding Co. in Taipei, wrote in a report. "HTC's improving brand awareness and software capability will continue to support its growth momentum into 2011."
