HTC Profit Almost Doubles on Smartphone Sales

Phone manufacturer HTC Corp. (HTCXF) almost doubled quarterly profited as demand for smartphones surged.

Third-quarter profit jumped to NT$11.1 billion ($360 million) from NT$5.7 billion a year earlier, Bloomberg News reported. The Taiwanese company easily beat the NT$9.2 billion forecast by analysts surveyed by Bloomberg.

Sales more than doubled from the third quarter of 2009, as customers snapped up phones that use Google's (GOOG) Android platform.

"HTC will be a key beneficiary of the robust smartphone up-cycle, growing popularity of Android, and Microsoft's strong push of WP7," Jeff Pu, an analyst at Fubon Financial Holding Co. in Taipei, wrote in a report. "HTC's improving brand awareness and software capability will continue to support its growth momentum into 2011."

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