HTC Doubles Up Earnings, Plans To Enter Tablet Market

If you're building smartphones these days, particularly phones with iOS or Android on them, you're probably doing quite well. These data-driven phones are becoming more popular then ever, and there's no sign of that trend stopping. HTC has had a hand in numerous Android phones over the past few years, from the Nexus One all the way up to the Desire HD and Wildfire. And clearly, HTC's phones are selling well. The Taiwan-based company just announced their Q4 2010 earnings, and they actually doubled those earnings from a year earlier.

Now, Q4 2009 was definitely a weak quarter for just about everyone, but still, doubling is no small feat regardless of the economy. Net profit from the Oct.-Dec. 2010 quarter was near $500 million, up 160% from a year ago. There was also a 31% increase from the third quarter, but of course, the holidays always tend to boost sales for smartphone makers.

The company doesn't plan on slowing down. In 2011, CEO Peter Chou noted that he hopes to double monthly capacity in their Shanghai factor to two million phones, and he'll consider outsourcing if necessary. In order to keep the revenue streams fresh, HTC also plans to enter the tablet market. The company already tried something similar once with the HTC Advantage, but now the market is ripe for adoption. Chou said of the tablet market: "It's a new market with many competitors, and we don't want to rush into it. We hope the product we eventually unveil will be one that meets consumers' needs."

There's no mention of whether the future tablet will be Android-based, but we'd guess it will be. Onward and upward, as they say.