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Despite a Q4 decline, HTC sees 2011 sales up 67% to $15.4 billion

Income up 60% to $2 billion
Despite a Q4 decline, HTC sees 2011 sales up 67% to $15.4 billion

Taiwanese phone manufacturer HTC (2498:TT) has announced its unaudited financials for Q4 2011, the three months ending 31 December.

Total revenue was NT$101.4 billion (around $3.4 billion), down 2.49 percent year-on-year.

Net income after tax was NT$11 billion (around $365 million), down 26 percent compared to Q4 2010.

Squeezed end

However, combining these unaudited figures with audited numbers for the first nine months of 2011, HTC saw strong growth.

Total sales were NT$466 billion (around $15.4 billion), up 67 percent compared to 2010.

Net income after tax was NT$62 billion (around $2 billion), up 60 percent.

Looking to the future

HTC's executives expected Q4 figures to be weaker with CFO Winston Yung saying "I don't think it's so serious," in November following its downgrading of revenue predictions.

"We will focus on the product next year, better and more competitive. Other than new LTE phones for the US market, we have phones for the global market. We will launch some worldwide flagship products. We're confident in them," he added.

[source: HTC (PDF)]