HTC passes Nokia in market valuation
HTC has overtaken Nokia to become the third largest smartphone maker by market value. HTC’s total value was estimated to be at USD33.8 billion on Thursday, while Nokia stood at USD33.4 billion.
The only two companies bigger than HTC in the smartphone market are Samsung and Apple, while LG, Sony and RIM come after HTC, reported FT.
HTC’s rise showcases how smartphones running on Android have overtaken the market, a small amount of company shipments is also contributed by Windows Phone devices.
HTC took advantage of the 18-month period in which it was the sole producer of Android-based phones to grow quickly in size. C.K. Cheng, analyst at CLSA, the equity brokerage, says that HTC’s scale means that “in times of tightness in the supply chain, such as now after the Japan earthquake, all the suppliers are going to ensure that Apple and HTC get their orders filled first rather than Motorola or Sony Ericsson”.
HTC came into existence in 1997 and was just an OEM for first 11years.