HTC revenue jumps 130 percent in September

Company nearly doubles its third-quarter profits year over year. Analysts cite HTC's presence in Android smartphone market as driver for success.

David Meyer Special to CNET News.com

HTC saw a 130 percent year-on-year rise in its revenue in September, the phone manufacturer said in a brief statement (PDF) today.

According to HTC, it brought in NT$27.1 billion (US$875 million) in September. Its revenue for the whole third quarter was NT$75.8 billion (US$2.45 billion). "September revenue was impacted by product transition with small portion shipment of new products, but the volume shipment of new products will start from October," said the company, which nearly doubled its third-quarter profits year over year.

Analysts quoted by Reuters pointed to HTC's presence in the Android smartphone market as a driver of its success. "Investors are comfortable with HTC's status in the Android market," RBS analyst Steven Tseng is quoted as saying. "HTC will keep a stable position, even if it is not a leader in the sector."

HTC's main rivals in the Android space include Motorola, Samsung, LG, and Sony Ericsson. Rumors suggest the company is also gearing up to be one of the first manufacturers to release phones using Microsoft's new mobile operating system, Windows Phone 7.

The story "HTC sees massive rise in revenues, profits" was originally posted at ZDNet UK.