HTC Beats Forecasts, Registers Three Times Higher Profit

Reuters reports that HTC, the Taiwanese Mobile Manfacturer, has registered profits to the tune of T$ 14.83 Billion, while analysts had predicted around T$ 12.99 Billion.

Bonnie Chang, a Hong Kong analyst, says –

That its first quarter would be above expectations was well foreseen, Q1 seasonality was better than expected. For the second quarter everyone is expecting revenue sequential growth in the high teens to 20 percent, shipments will be strong and average selling prices are holding up pretty well

The Smartphone market is expected to grow 58% this year, according to Gartner. The next year may see a growth rate of 35%.

HTC’s sales for March have touched T$37 Billion, more than doubling Year-on-Year.