HTC Profit Almost Doubles on Smartphone Sales
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.
"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."