HTC posts record profit riding on Android sales

HTC posted a record quarterly profit [during 1Q 2011] and its net income almost tripled to NT$14.83 billion ($513 million) in the first quarter from NT$5 billion a year earlier.

“That its first quarter would be above expectations was well foreseen, Q1 seasonality was better than expected,” said Bonnie Chang, an analyst at Yuanta Securities in Hong Kong.

HTC did not disclose the first quarter shipment details but it did say that sales were doubled due to the rising demand of Android devices.