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HTC publishes increased Q1 profits

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HTC publishes increased Q1 profits

HTC has announced better-than-expected first quarter profits of £104 million, driven by strong sales for its highly rated Android smartphones.

The figure represents a 3.1 per cent increase from the year-ago period and suggests that the slowdown in demand that affected mobile companies during the worst of the credit crunch is abating.

HTC saw unit sales rise by 33 per cent in March 2009 and this year it believes that the growing profile of its brand has allowed it to gain further market share.

However, despite the gains HTC still has a smaller market share than its main rivals Nokia, Apple, Research in Motion (RIM) and Motorola, according to analyst firm IDC.

But HTC's position as one of the underdogs of the smartphone market looks set to change as new releases such as the HTC Desire and Legend gain traction with the growing numbers of fans of Google's Android mobile phone platform.

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