UPDATE 1-HTC sees Q1 revenue, shipments more than double

Reuters | Janaury 21, 2011 | Clare Jim
* Sees Q1 revenue T$94 bln, shipments 8.5 mln units
* Guidance quite conservative-analyst (Adds comment, details)
TAIPEI Jan 21 (Reuters) – Taiwan’s HTC Corp (2498.TW), the world’s No.4 smartphone brand, expects revenue and shipments to more than double in the first quarter of 2011, helped by a new generation of products.
The company said on Friday in a presentation to investors that it sees revenue reaching T$94 billion ($3.2 billion) and shipments at 8.5 million units in the quarter, while its gross profit margin would be 29.5 percent.
HTC’s strong push into smartphones using Google’s (GOOG.O) Android operating system has helped the company to grow market share against bigger smartphone rivals like Apple Inc (AAPL.O), Nokia Oyj (NOK1V.HE) and Samsung Electronics (005930.KS).
“I think the guidance is OK though it may be a bit disappointing to some as 8.5 million units is at the lower end of market expectations,” said Bonnie Chang, an analyst of Yuanta Securities, who forecasts shipments to be 8 million units.
Goldman Sachs and Citi have recently revised up their forecasts on HTC, expecting first quarter shipments to exceed 9 million units.
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