HTC Reports Strong Financial Quarter

HTC has something that's always welcome during lean financial times: a quarter with outstandingly good results. 

The company took in $1.1 billion (NT$32.7 billion) during the first three months of 2008, up 38.6% over the same period last year. Its revenue for March was $365 million (NT$11.05 billion), up 21.4% year-over-year.

This led to a bonus-adjusted, after-tax quarterly profit of $227 million (NT$6.87 billion), or about 40 cents a share (NT$11.98 per share). That's an increase of 24% over the same quarter of last year.

An HTC spokesperson told Telecomtiger that high demand for new smartphones, especially of its Touch line of touchscreen models that are similar to the Apple iPhone, was largely responsible for the increase in earnings.

Just a few years ago, HTC was virtually unknown, but the company's fortunes have risen as demand for smartphones has increased. It is now responsible for a majority of the Windows Mobile-based smartphones shipped worldwide.

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