HTC's Q3 $360 million profit beats forecasts

HTC's Q3 $360 million profit beats forecasts
Android has been a success story that has turned around two of the industry's former powerhouses - Motorola and Sony Ericsson. For others, such as Samsung and HTC, it has presented a great opportunity to expand their market share, and prosper.

HTC released its results for the quarter ending in September, and they beat the analysts forecasts, even though the summer months are usually the slowest time of the year for such purchases. The Taiwanese smartphone manufacturer earned $360 million from its phone business, mostly due to high-margin Android handsets. This is almost double what the company made in Q3 of 2009, and is derived from $2.45 billion of revenues.

This pegs the net profit margin at around 7%, which is not high, if we compare to the money Apple is making off of each iPhone 4, but still more than what most everyone else is making. Considering the broad phone portfolio of HTC, which was found just 13 years ago, it is a commendable achievement, and we are curious how Windows Phone 7 will treat HTC's bottomline further down the road.

source: Reuters

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