HTC's profits during the first quarter of this year tripled compared with the same period in 2010, according a report from Reuters. The massive increase in profits is attributed to strong sales of the manufacturer's line-up of Android smartphones.
From atop a gigantic pile of cash, HTC announced that it made a first-quarter profit of T$14.83 billion (~$511 million), beating the predicted figure of T$12.99 billion. Q1 2011 revenues apparently topped T$104.2 billion (~$3.6 billion), with consolidated sales for March hitting T$37 billion (~$1.3 billion). That's a lot of phones.
Expectations are already high for the second quarter, with analysts suggesting HTC's profits could increase by up to 20% during the next three months. [Reuters]
- Filed under: