Smartphone maker HTC’s net profit increases by 160%

HTC - On a Growth Path

HTC – On a Growth Path

The Taiwanese Smartphone maker HTC – which has emerged as a competitor to Apple’s iPhone, reported that its net profit for the quarter ending in December2010, jumped by 160 percent, compared to same period a year earlier.

HTC was the Smartphone maker in the world to build products around Google’s Android operating System.

Sales for the quarter was recorded at New Taiwan dollars 104 billion, while net profit was recorded at NT$14.59 billion ($500 million, £315 million). Total Smartphone sales stood at 24.6 million, more than twice the number sold in 2009.

The company is bullish on sales in 2011 and expects to sell some 8.5 million handsets in the January to March quarter, 2011.

The company announced that it will launch its tablet PC’s to challenge Apple’s iPad.

“It’s a new market with many competitors, and we don’t want to rush into it”, said Chief Executive Officer Peter Chou.

“We hope the product we eventually unveil will be one that meets consumers’ needs”, he added.

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