HTC Posts Strong Results and Outlook, Plans to Add 1,000 Workers
Taiwan’s HTC continued to benefit from the growth in the smartphone market, reporting Friday first-quarter revenue and profits more than double those of a year ago.
For the first quarter, HTC said it earned $504 million (14.8 million Taiwanese dollars) on revenue of $3.5 billion (104.6 billion Taiwanese dollars). A year ago, earnings and revenue were only a bit more than a third of that.
The company said that it shipped 9.7 million phones in the first quarter, up six percent from the fourth quarter and nearly triple the number of a year ago. HTC’s average selling prices also increased six percent from a year ago, to $359.
“We had a phenomenal quarter with record sales and profits,” HTC CEO Peter Chou said in a statement. “Our innovation and leadership in technology has taken us to new highs.”
For the current quarter, the company expects to ship between 11 and 11.5 million phones, more than double the amount from last year. Revenue is also predicted to nearly double, to around 120 billion Taiwan dollars.
HTC has been working to distinguish itself both through unique hardware like its Facebook-centric Salsa and ChaCha phones as well as with an updated version of its HTC Sense software. The company said it plans to continue to invest in its brand and also plans to add 1,000 new employees to its workforce.