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Taiwan smartphone maker HTC Corp said first-quarter profit almost tripled, beating forecasts, driven by strong demand for its handsets, particularly those running on the Android operating system
The company, which has just overtaken erstwhile industry giant Nokia Oyj in terms of market capitalization, said on Friday that unaudited first-quarter net profit was T$14.83 billion ($511 million). Analysts had forecast a profit of T$12.99 billion.
"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.