HTC net profits grow by two thirds in third quarter

October 6, 2011
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Pay no attention to that dipping stock price, HTC is rolling in the dough. The company announced its Q3 earnings today, and profits are up by 18.64 billion Taiwanese Dollars, or about $615 million USD. That's an increase of 68%. The company's total revenue has hit an impressive $4.4 billion, almost all of it coming from Android and Windows Mobile 7 phones.

Margins on HTC devices are lower than other Android manufacturers, especially in their higher-end Android phones. Between that and a sliding stock price based on increasing competition in the smartphone space, some investors are questioning HTC's long-term viability against Samsung and Apple. But the numbers speak for themselves: HTC's market cap is sitting at about $33.8 billion dollars, more than Nokia or RIM, and definitely enough to compete with the bigger players.

To top off these impressive numbers, HTC announced its new Sensation XL in London today. The new phone, previously codenamed "Runnymede", takes full advantage of HTC's partnership with Beats Audio with on-board software and Beats headphones included in the retail packaging. While the Sensation XL is slated for a November release in Europe and Asia, there's been no announcement as to when it'll be crossing the pond to North America. Be sure and check out Android Community's hands-on video to get a look at that massive 4.7-inch screen.


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