HTC post 68 percent increase in Q3 profits, forecasts weak Q4

01 November 2011 – HTC is reporting yet another brilliant quarter, as the company’s Q3 earnings report released today – its revenue went up by 79 percent on the year to $135.8 billion Taiwanese dollars (RM14 billion), which the manufacturer attributed to ‘strong brand recognition, leading product portfolio and expanded distribution channels.’

More good news from the Taiwanese firm, net income rose to $18.68 billion TWD (RM1.8 billion) this quarter, a 68 percent increase over Q3 2010 and went up seven percent over Q2, which was a record breaking quarter.

However, HTC forecast that its sales in the fourth quarter would drop below expectations, despite being the holiday season. HTC said on Monday it expects fourth-quarter revenue to fall from $135.8 billion TWD to $125-135 billion TWD, and shipments failing to 12-13 million units from 13.2 million in the third quarter.

HTC made a lot of headway in the Chinese market with sales jumping nine-fold from a year ago, Reuters’ points to more outlets selling HTC models. The Taiwanese firm also reiterated that they won’t compromise and launch feature phone, instead hoping to capture customer migrating from feature phones to smartphones. CFO Winston Yung told a telephone conference, “We cannot launch low-end products.”

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