HTC beats analyst forecasts for Q2

Taiwanese phone maker HTC surprised analysts today by reporting better-than-expected second quarter profits. The company posted a net profit of $197.1 million, down 2 percent from the same quarter in 2008 but beating analysts' estimates of $168 million.

The company attributed its better-than-expected results to its new line of phones, including the popular G1, which was the first phone to use Google's Android operating system (T-Mobile has sold more than a million of the devices). Last month, HTC unveiled the Hero, its third Android-based phone after the previously announced Magic.

HTC, which makes Windows Mobile devices and has jumped into the Android game with both feet, has managed to increase its smartphone market share by climbing to 4.3 percent in the fourth quarter of 2008, up from 3.7 percent in the year-ago quarter, according to Gartner.

HTC did not provide any guidance for the future, but did say that it expects full-year shipments to be 20 percent higher than previously forecast because of the popularity of its smartphones.

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