HTC Climbs Past Nokia in Market Cap
HTC just passed a stunning financial milestone, surpassing yet another formidable rival. Having recently roared past Research in Motion in market cap, the company has soared on past Nokia as well.
HTC’s market cap today sits at about $33.8 billion, which is greater than Nokia’s ($32.84 billion) and well above RIM’s ($28.5 billion).
Which is, frankly, dumbfounding. HTC’s market value is now more than 30 times what it was five or so years ago, driven there by a thriving mobile device business.
And according to a recent Goldman Sachs report, the company is poised for still further growth thanks to what analyst Robert Chen describes as “a very unique business model and ecosystem strategy.” He expects HTC to ship 200 million smartphones and 30 million tablets globally each year over the next three to five years. Said Chen, “This reflects its superior position, which allows it to benefit from the broadband convergence trend, significant growth potential in emerging markets, as well as its leading product roadmap and branding campaign that continue to increase its preference among global consumers.”