HTC's Net Profit Nearly Triples

HTC Corp. said Friday its first-quarter net profit nearly tripled, driven by strong growth in handset shipments.

HTC’s strong results reflect rising demand for smartphones as consumers continue to switch from traditional cellphones to gadgets that allow them to browse the Internet, write emails and watch videos.

The Taiwan-based smartphone maker, which is best known for making phones using Google Inc.’s operating system, has been growing at a rapid clip and is neck-and neck with Nokia Corp. in terms of market capitalization.

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