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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Japan to stop pumping radioactive water into sea | 11:29am EDT Scientists find superbugs in Delhi drinking water 07 Apr 2011 New York law now makes choking a crime, results in 2,000 arrests 07 Apr 2011 China concerned at Japan's prolonged nuclear crisis 8:44am EDT Facebook now wants a say in computer hardware 4:47am EDT Discussed 119 U.S. to reach debt limit by May 16: Geithner 81 Stumbling blocks remain in budget fight 76 US Republican budget plan would cut $5.8 trln in 10 yrs Watched NATO air strike hits Libyan rebels Thu, Apr 7 2011 7.4 magnitude quake strikes Japan Thu, Apr 7 2011 High fashion for compassion Thu, Apr 7 2011 small business Is social media the elephant in the room? GoDaddy founder Bob Parsons caused a stir when he posted a video of him killing an elephant on Twitter. It's the latest example of the inherent dangers of social media and small businesses should take heed to avoid pulling a "Parsons." Full Article Managing elephant-sized social media blunders The do's and don'ts of securing a domain name 5 signs you need a marketing makeover HTC first quarter profit triples on Android popularity Tweet Share this TAIPEI (Reuters) - Taiwan smartphone maker HTC Corp said first-quarter profit almost tripled, beating forecasts, driven by strong demand for its handsets, particularly those running on the Android operating system The company, which has just... Email Print Related News Jobless claims fall, retail sales stronger Thu, Apr 7 2011 Smartphones surging, Nokia to tumble: analysts Thu, Apr 7 2011 Google's Android driving smartphone surge -Gartner Thu, Apr 7 2011 Oil up on Middle East; M&A boosts equities Mon, Apr 4 2011 S&P closes flat, fails to break through resistance Mon, Apr 4 2011 Analysis & Opinion From noodles to gasoline Tech wrap: Android takes over Related Topics Technology » Media » Stocks The HTC Evo 3D phone (L) and the HTC Evo View 4G tablet are unveiled by Sprint at the International CTIA wireless industry conference, at the Orange County Convention Center in Orlando, Florida March 22, 2011. Credit: Reuters/Scott A. Miller TAIPEI | Fri Apr 8, 2011 5:08am EDT TAIPEI (Reuters) - Taiwan smartphone maker HTC Corp said first-quarter profit almost tripled, beating forecasts, driven by strong demand for its handsets, particularly those running on the Android operating system The company, which has just overtaken erstwhile industry giant Nokia Oyj in terms of market capitalization, said on Friday that unaudited first-quarter net profit was T$14.83 billion ($511 million). Analysts had forecast a profit of T$12.99 billion. "That its first quarter would be above expectations was well foreseen, Q1 seasonality was better than expected," said Bonnie Chang, an analyst at Yuanta Securities in Hong Kong. "For the second quarter everyone is expecting revenue sequential growth in the high teens to 20 percent, shipments will be strong and average selling prices are holding up pretty well." Growing demand for phones running on Google's Android platform will help the smartphone market grow in 2011, boosting companies such as HTC and Samsung Electronics who are betting on the platform. The smartphone market is likely to grow 58 percent this year and 35 percent the next, according to research firm Gartner. Android's popularity has helped Asian manufacturers to rise fast in smartphone rankings. HTC's market capitalization topped that of Nokia earlier in the week after a 29 percent surge in its share price so far this year. The shares touched a high of T$1,220 on April 7 this year, more than triple the T$360.5 on April 6, 2010. That surge has helped turn its chairwoman, Cher Wang, into Taiwan's richest person. On Friday, the shares closed down 3.3 percent at T$1,160 versus the benchmark index's 0.08 percent fall. Yuanta's Chang said she expected to raise her price target for the shares to around T$1,300 to T$1,400, where she expected most other broker targets to be. HTC said consolidated sales for March reached T$37 billion, more than double the same month a year earlier. First-quarter revenues reached T$104.2 billion. The company did not elaborate in its statement. It has said at the beginning of the year that it expected revenue and shipments would be more than double in the first quarter this year, helped by a new generation of products. (Reporting by Argin Chang and Jonathan Standing; Editing by Jacqueline Wong) Technology Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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