HTC quarterly results show profits up nearly 200 per cent

HTC has reported excellent first-quarter results, showing profits up 196.8 per cent for the year at over $500m.

Smartphone sales drove revenues for the Taiwanese manufacturer, which sold 9.7 million units in the quarter, up 192 per cent on last year's figures.

Unlike RIM, which issued a revenue warning yesterday, HTC's average selling price per device rose six per cent to $359 per unit.

"Thanks to the hard work of our employees and support from consumers worldwide, we had a phenomenal quarter with record sales and profits," said Peter Chou, HTC's chief executive.

"Our innovation and leadership in technology has taken us to new highs. Our brand has been increasingly recognised by customers, and we will continue to focus on delivering the best smartphone products with cutting edge technology, user friendly interface and premium lifestyle design,"

The company, which has now surpassed Nokia in sales, is bullish about the future, predicting that shipments and revenues will double again by the end of the second quarter.

HTC will introduce a software services arm based around the HTC Watch handset in the second half of the year, and plans to add 1,000 marketing, operation and R&D staff this year.