HTC results are out and it had observed net income jumping 33 percent and its total revenues increasing by 58.45 percent year over year.
HTC says its net income jumped 33 percent for the second quarter, and total revenue exceeded 58 percent year over year. The company says sales of the Evo 4G should enable it to maintain its momentum in the second half of 2010.
Strong Android device sales have enabled smartphone manufacturer HTC to log another successful quarter, solidifying its standing as a major contender in the mobile device market.
The company on July 6 announced profits of $268 million for the second quarter of 2010, according to the Wall Street Journal. The figure represented HTC's highest profits since 2007, with its net income jumping 33 percent and its total revenues increasing by 58.45 percent year over year.
Yuanta Securities analyst Bonnie Chang told the Journal, "We expect the strong momentum to continue in the second half of the year, as HTC will launch another round of new smartphone models in the third quarter." Chang is forecasting shipments of HTC handsets to grow from 2009's 12 million to approximately 20 million units in 2010.
Some have called Apple's lawsuit against HTC—whose handsets, Apple claims, infringe on several its iPhone-related patents—an early sign of HTC's growing prominence, or perhaps more correctly of the growing popularity of Android handsets.
"I don't think Apple looks at HTC as a nemesis or anything," Roger Kay, principal analyst for Endpoint Technologies, told eWEEK. "It's Android, not HTC, that matters."
Market research company IDC has projected that Android will be the No. 2 mobile OS worldwide by 2013, behind only Symbian.
An early 2010 report from AdMob, which looked at smartphone traffic over the networks, likewise found Android to be the fastest-growing OS in use, with ad requests increasing from 2 percent in February 2009 to 24 percent in February 2010.
HTC's second-quarter figures represent the three months ending March 31. Its Evo 4G smartphone, which debuted on the Sprint network June 4, is likely to do good work toward boosting the company's fourth-quarter earnings. In addition to a gorgeous 4.3-inch display, the Evo 4G features cameras on its front and back, can act as a mobile hot spot for up to eight devices, supports Adobe Flash, is upgradable to Android 2.2 and is the first smartphone in the United States to run on both 3G and 4G networks.
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