HTC Nearly Doubles Their 3rd Quarter Profit - The UpStream

HTC Nearly Doubles Their 3rd Quarter Profit

posted Sunday Oct 10, 2010 by Nicholas DiMeo

HTC Nearly Doubles Their 3rd Quarter Profit

HTC has become very good at making friends with just about everybody. So good, in fact, that they are reaping the rewards from it financially. The world's 4th largest smartphone manufacturer almost doubles their third quarter profits this week, largely due to Google's Android line of smartphones.

For more on their success, hit the break.

HTC is reporting $360 million in net profit for July through September, which is almost twice as much as they did in last year's third quarter, and far beyond their projected $280 million that Reuters had speculated.

HTC revealed their secrets to their success and it is no surprise. Mobile devices and services are the reason their profits are so high, especially with the Android platform, which is expected to be the second most popular operation system this year - almost two years sooner than initially estimated. Granted, there are, like, fifty versions of Android, but who's counting?

Investors are comfortable with HTC's status in the Android market. HTC will keep a stable position, even if it is not a leader in the sector.

Even with competition like Samsung, Nokia, RIM and Apple, HTC is still seeing their popularity increase. Now, with Microsoft's WinPho coming into play this week, we could see some numbers shift around to further benefit HTC, as they are one of the first to have a phone out with the new operating system. And as long as HTC continues to make a solid product, it'll be hard to stifle their rise to the top where the big boys play.

In related news, HTC is having a marketing event in Taiwan this week to launch a new line of smartphones. It'll be exciting to see what they come out with.

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