Smartphone maker HTC reports profit jump

January 21, 2011 at 10:08a.m.

TAIPEI, Taiwan (AP) — Taiwan's top smartphone maker HTC said today its fourth-quarter earnings more than doubled from a year earlier amid strong demand in global markets.

Net profit for the October-December quarter surged to New Taiwan dollars 14.59 billion ($500 million), up 160 percent from a year earlier, and a 31 percent increase from the third quarter, the company said in a statement.

Unconsolidated revenue totaled NT$104 billion in the final quarter, up from NT$41.07 billion the year before.

HTC experienced fast business growth last year on the strength of its design and production of the first handset based on Google Inc.'s Android operating system.

HTC shipped 24.6 million handsets in total last year, up 111 percent from 2009. First-quarter sales are expected to reach 8.5 million handsets this year, officials said.