HTC revenue up almost 70% from last year, proves hard work and Android always pay off

HTC revenue up almost 70% from last year, proves hard work and Android always pay off
Known as High Tech Computer, when it was young and poor, HTC is behind some of the most innovative and talked-about phones of lately. They didn't soul search like Motorola, Nokia or Sony Ericsson, they just offered what users wanted. When Android was unleashed to the masses, they quickly reworked their portfolio to offer some of the most enticing phones with the green robot to date. Switching to Android, instead of paying royalties to Microsoft for their outdated mobile OS, has definitely had a positive effect on HTC's financials, if last quarter's results are any guidance.

Revenue for the quarter that ended in June is the healthy $1.88 bln, up 66.68% from the same period last year. Net profit is also up 33%, proving that the smartphone business is recession-proof, if done right. However, since we were mostly seeing the platform on more advanced, higher margin devices from HTC so far, it is not known what effect will bring Google's decision to put Android on cheaper handsets in China and Indiaon future revenues. The company, however, has recently begun to cover this base with the budget HTC Aria on AT&T, and the HTC Wildfire.

Knowing the manufacturer, though, we are sure they will be pushing some more amazing hardware next quarters too, so we all wished we had bought some company shares when they were young and foolish. On last check, HTC stock was up almost 5% today on the revenue news.

source: Google finance via jkOnTheRun


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