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HTC Q3 Profits Break Records - Again

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HTC Earnings Q3

HTC has today posted record profits for the seventh quarter in a row, indicating that it had shipped 13.2 million handsets in the last three months, almost double the amount it shipped in the same period last year.

HTC, currently the fifth largest handset manufacturer in the world, announced net income up almost 70 per cent to NT$18.68 billion (£388) compared to the third quarter of 2010 – and a seven per cent increase over last quarter’s record profits.

While profit was up 68 per cent, revenue rose by even more, up 79 per cent to NT$135.8bn (£2.8bn) which is down to "HTC’s diverse product offerings, expanded distribution network and growing global brand recognition" according to the company itself.

HTC shipped 13.2m handsets in the last three months, and while this is a 93 per cent increase, it pales in coparison to Samsung who last week reported shipments of 27.8m handsets in Q3, jumping ahead of Apple who shipped 17.1m.

HTC Earnings Q3

However, despite good looking figures for the previous three months, the Taiwanese company has given a conservative outlook for Q4. The company said it believes there will be slightly lower shipments in the fourth quarter citing uncertainties from new models to be launched as well as global “economic invisibility.”

"We hope to capture the opportunities from customers migrating from feature phones to smartphones with our quality; that's something we won't compromise, we cannot launch low-end products," HTC CFO Winston Yung told a telephone conference.

One point HTC did make however is that it will not be bringing any sub-$100 phones to market, despite media reports to the contrary. With ZTE and Huawei currently enjoying a lot of success in this space, it was thought HTC would go back to its roots of making budget handsets for emerging markets.

Despite not making sub-$100 handsets, HTC reported that China was one of its most important growth regions with nine times the sales volume compared to this time last year.

Source: HTC and Reuters

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