HTC: Q4 sales have grown 20%

Taiwan's High Tech Computer Corp., the world's top smartphone maker, said Wednesday its sales grew about 20 percent in the fourth quarter, indicating a decline in the growth rate for December.

HTC had previously reported 22.3 percent sales growth in October year-on-year and 32.7 percent in November, but has yet to release its December data. Combined sales for October and November totalled NT$27.6 billion.

The 20 percent growth rate for the fourth quarter was well below a 33 percent year-on-year jump in sales expected by analysts, according to Reuters Estimates.

CFO Cheng Hui-ming said a decline in the December growth rate should not come as a big surprise as the month had typically been slower for the company in the past.

He said a component shortage that HTC had discussed last month due to fast growth in the 3G market was under control, although the situation remained tight.

"This should not have a major impact on the first quarter," he said at an investor conference held by the Taiwan Stock Exchange. No financial forecasts were given.

HTC has said it expects 2008 sales to grow about 20 percent, as the firm rolls out new models and builds up its own brand.

In addition to selling its own-branded smartphones, HTC serves a clientele that includes T-Mobile, Verizon, Orange, NTT DoCoMo, and PC makers Dell Inc. and Hewlett-Packard.

The company gave its outlook after the market closed on Wednesday, when HTC shares slid 3.34 percent to end at NT$579.00, worse than a 2.15 percent drop on the main TAIEX index.

Its stock rose 21 percent in 2007, outperforming a 9 percent gain for the benchmark index.