HTC: reports net profit of $220 million in Q3
Thanks to its Touch line smartphones HTC sees a revenue rise of nearly $1.2 billion that’s up a staggering 30 percent, the handset manufacturer also reported net profit of around $220 million on the third quarter 2008, although the analysts’ predictions were not met.
HTC primarily sold cell phones that were rebranded by a wireless carrier, but HTC now have made its own mark with HTC-branded Window Mobile smartphones like the Touch. Looking at research by Gartner, High Tech Computers were catching up with Research in Motion (RIMM) the brains behind the BlackBerry and Nokia (NOK) for global sales.
The profit of HTC was a drop of 4.9 percent from the same period in 2007, but High Tech Computers said this was due to “typhoon weather” that delayed September’s shipment. The company’s revenue rose 30 percent this year and they still expect another 20 to 30 percent growth on 2008 revenue. With the sale of the T-mobile Google G1 mobile hitting the shops late October we are sure to see profits rise for this phone manufacturer.