HTC unveils record profits, passes Nokia

HTC overtakes Nokia to become world's third largest phone maker by market value

HTC post record profits for Q1 in 2011

HTC have cantered past Nokia to become the world’s third largest phone manufacturer by market value. Boosted by their early uptake of the Android platform, they posted an eye-watering $3.6 billion in revenue for their Q1 results.

In figures to bring much, obviously understated, whooping and hollering from Taiwan, their record Q1 net income nearly tripled what they achieved this time last year. It doesn’t take Einstein to figure out that the public’s lusting for Android phones is behind the vast leap in profits and with the Flyer, HTC’s first tablet, just about to hit the marketplace, analysts are predicting the company’s success won’t be short lived.

This news will be sure to bring more anxiety in the corporate sauna’s at Nokia’s Finnish HQ, where the pressure on the company to make a success of their love-in with Microsoft’s Windows Mobile becomes ever more acute.

Now we can’t imagine HTC, which prides itself on its ‘quietly brilliant’ ethos, will throw off the shackles and shout out their achievement from the rooftops at Tuesday’s press event, can we?

Can Nokia catch HTC in the battle for smartphone supremacy? Let us know on T3’s Twitter and Facebook feeds and stay tuned in for the latest tech news.