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May 5, 2011

HTC trebles profit driven by Android smartphones

by Darren Allan

HTC has reported new highs for quarterly revenue and net profit in its first quarter 2011 financial results.

Total revenue for Q1 was 104 billion Taiwan dollars, up 175% year-on-year, and net profit was 14.83 billion Taiwan dollars (£313 million) which was up 197%.

HTC shipped out 9.7 million smartphones in the first quarter, 192% up on the previous year, and 6% up on the final quarter of 2010.

HTC cited strong demand for its Q1 launch products which included the Inspire 4G, Thunderbolt, EVO Shift 4G and of course the Desire S and Incredible S.

Peter Chou, CEO at HTC, commented: “Our brand has been increasingly recognised by customers. We will continue to focus on delivering the best smartphone products with cutting edge technology, user friendly interface, and premium lifestyle design.”

The company also noted that it will be adding 1,000 employees going forward, with the jobs coming in marketing, R&D and operations.

HTC also delivered its Q2 outlook, with expectations to ship around 11 to 11.5 million smartphones. Certainly part of that will be newcomer the HTC Sensation which launches in two weeks exclusively with Vodafone.

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