Android helps HTC double profit

HTC reported a near doubling in third-quarter profit, thanks to new models and its push into phones for Google’s Android operating system.

Android helps HTC double profit

HTC’s unaudited net profit was T$11.1 billion (£226 million) for July-September, the company said in a statement that gave no further details. That was up from T$5.695 billion in the same period a year ago and well above a consensus forecast of T$8.7 billion by Thomson Reuters.

HTC has recently unveiled details of its push into the increasingly important mobile services sector and has introduced two new handsets using Google’s Android mobile operating system.

“Investors are comfortable with HTC’s status in the Android market,” said Steven Tseng, an analyst at RBS in Taipei. “HTC will keep a stable position, even if it is not a leader in the sector.”

HTC’s sales reached T$27.1 billion in September, more than double from the same month a year earlier, while third quarter revenues reached T$75.85 billion, from T$33.81 billion a year earlier.

Research firm Gartner predicts the Android operating system will become the world’s second most popular operating system for mobile phones this year, almost two years sooner than first expected.

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