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HTC Doubles Revenues Again

It’s not really easy to make a profit nowadays, especially in this competitive market, but 2011 seems to be a great year for HTC. First the company managed to triple its net profit in the first quarter of the year, showing both record revenues and profits. And now HTC once again sees record revenue growth – over 115 percent in May. So in the first five months of 2011 HTC showed almost 150 percent of revenue growth.

Analysts had predicted HTC’s net profit to amount to 12.99 billion TWD in Q1, but the number was even bigger — 14.83 billion TWD (about $511 million). As for the revenues, they made up 104.16 billion TWD (about $3.6 billion). At the moment HTC’s market cap is about a trillion TWD – about $35 billion, which is $10 billion more than Nokia’s current market cap ($25 billion). Who could ever think about it only a couple of years ago?

HTC sold 9.7 million smartphones in the first quarter of the year – 192 percent more than in the same first quarter of 2010. However, the prices for HTC smartphones have also grown – the average selling price increased by 6 percent compared to 2010 and made $359.

HTC is expecting revenue and income growth in the second quarter of 2011, too. The analysts say the company will sell about 11 million devices instead of this quarter’s 9.7 million.

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