HTC on track to hit growth targets

Taiwan-based smartphone maker High Tech Computer (HTC) announced on Friday that it expects fourth quarter and whole year revenues for 2008 to both increase by at least 20% on year.

HTC, whose products offer strong competition to Apple’s iPhone and RIM’s Blackberry range, plans for revenue increases in the fourth quarter to be in the mid twenties percentage range, whilst full year revenue increases should be close to 30%.

Projected revenues for the fourth quarter are NT$48 billion (US$1.46 billion), which would bring total revenues for 2008 close to the NT$200 billion mark.

If these results are achieved, the company’s full year forecast of 29% on year growth will be maintained.

In the third quarter, HTC’s net profit increased 25.9% on year to NT$6.99 billion, although earnings per share decreased to NT$9.25, compared to NT$11.54 in the third quarter of 2007.

Popular smartphone models made by HTC include the HTC Touch Diamond, the HTC Dream G1, and the HTC Touch HD.

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