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HTC Q1 profit above forecasts; March sales double

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CIOL Bureau
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TAIPEI, TAIWAN: Taiwan smartphone maker HTC Corp reported an almost tripling of first-quarter profit, above forecasts, driven by strong demand for its phones.

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The company, which has just overtaken erstwhile industry giant Nokia in terms of market capitalisation, said first-quarter unaudited net profit was T$14.83 billion ($511 million). Analysts had forecast profit of T$12.99 billion.

HTC said consolidated sales for March reached T$37 billion, more than double the same month a year earlier.

The company did not elaborate in its statement.

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