HTC Corp. posted its first quarterly revenue growth in more than three years as new mid-range handsets helped offset competition from high-end models such as Apple Inc.’s iPhone.
Fourth-quarter sales climbed to NT$47.9 billion ($1.5 billion) from NT$42.9 billion a year earlier, HTC said today, the first gain since the third quarter of 2011. The Taoyuan, Taiwan-based company reported net income of about NT$470 million, beating the NT$212 million average of 14 analyst estimates compiled by Bloomberg.
HTC’s new tablet computer and phones aimed at developing markets helped stave off competition from the iPhone 6, a top-seller in the Christmas shopping period, and Chinese makers such as Xiaomi Corp. While quarterly sales rose, they cap a third full-year revenue decline after Chairwoman Cher Wang told shareholders in June that she’s confident about HTC’s future, and President Peter Chou said he saw an improvement from the second quarter of 2014.
In October, HTC forecast fourth-quarter revenue of NT$43 billion to NT$47 billion while latest analyst estimates expected NT$45 billion.
The company posted an operating profit of around NT$180 million for the quarter, compared with analysts’ estimates for a loss of NT$30.4 million.