HTC announces 2008 results, sells 50% of Windows Mobile devices?

HTC has posted their 2008 financial results, this time in video form.

They have announced around $4.5 billion in revenue (up 29%)  and $931 million in  profit. Based on their high margin fashionable devices they managed to raise their margin by 1.1% to 33.5%, and increase after tax profit by 18.8%. 

HTC’s performance was based on the sale of 12.03 million devices, 70% of them 3G.  Given that only around 1 million Android devices were sold in 2008, this would imply HTC shipped more than 50% of the 20 million Windows Mobile devices sold last year.

The HTC Diamond was HTC’s hit of 2008, selling more than 2 million in 6 months, an all time record for the company. HTC continued to build their own brand, with ODM work accounting for only 10% of their revenue in 2008.

Despite the economic downturn HTC remains optimistic about the future of the company, and expects double digit growth to continue in 2009 and the future. This optimism is reflected in their purchase of land in Taipei for a new R&D facility, and their expansion of their production facilities in Shanghai which should come on line in October 2009.

HTC’s shares are up 10% from February 2009.

Read more about HTC’s results here.

Thanks Dawid from for the tip.

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