Taiwanese phone manufacturer HTC [TPE:2498] is benefiting from the growth of smartphones, posting revenue figures up 19.3 percent year-on-year.

For the company's Q1 FY2010, ending March 31st, total revenues were T$37.7 billion or $1.19 billion

HTC said its self-assessed total for operating income for the quarter was T$5.54 billion ($176 million), or T$5.03 billion ($159 million) after tax.

This is up 3.1 percent from Q1 2008.

And with HTC one of the key providers of Android devices - the fastest growing mobile OS - sales seems to be accelerating too.

HTC broke out its March sales figures.

Total revenue was up 32 percent year-on-year to T$16.4 billion ($520 million).

The company said this strong business growth momentum was due to its effective execution of brand strategy, with Q1 earnings better than its original guidance.

HTC shares closed up 5.5 percent on the day at T$402, valuing the company at US$10 billion.

[source: HTC]