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Taiwan's HTC posts 70 per cent rise in 2010 profit

HTC 2001 net profit higher than expected, reaching $1.3 billion thanks to growing demand

AFP, Thursday 6 Jan 2011
HTC
HTC was estimated to have shipped more than 25 million smartphones last year. (Photo: Reuters)
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Taiwan's leading smartphone maker HTC said Thursday its net profit surged more than 70 per cent in 2010 on soaring demand for mobiles running Google's Android operating system.
Net profit hit Tw$39.33 billion ($1.3 billion), compared with Tw$22.61 billion ($0.7 billion) in 2009.

Earnings per share rose to Tw$48.24 ($1.6) from 28.71 ($0.9) in the previous year, while revenue soared 92.92 per cent to Tw$278.76 billion ($9.5 billion).

Analysts said the figures beat the guidance the company unveiled in the third quarter of last year.

"The results indicated that HTC has consolidated its position in the market of Android phones," Kuo Ming-chi, analyst at Concord Securities, told AFP.

In addition to a series of Android phones, its close partnership with telecom operators and US tech giant Qualcomm were also considered a plus in HTC's better-than-expected performance last year, he said.

HTC was estimated to have shipped more than 25 million smartphones last year, and it plans to more than double that number this year.

"But how to reach the target would be a big challenge to HTC, considering the increased efforts of Samsung and Motorola to tap the global smartphone market," Kuo said.

In order to ensure its growth momentum, the company also plans to launch tablet computers this year, encouraged by the big success of Apple's iPads, he said.
The company makes handsets for a number of leading US companies and is the manufacturer of the Nexus One, unveiled by Apple rival Google last year.

 

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