HTC has reported that its first quarter profit nearly doubled to NT$14.83 billion (US$517 million), while revenues reached a record high of NT$104.16 billion (US$3.5 billion), up by 175% from a year ago.

Handset sales totaled 9.7 million in the first quarter, a rise of 192 percent from Q1 of 2010 and up by 6 percent from the fourth quarter of 2010. Typically, companies report a sequential drop from Q4 due to the high sales at the end of the previous year.

Average sale price was US$359 in Q1, rising 6 percent from Q1, 2010. Operating margin was 29.3 percent, in line with the firm's forecast.

The company aims to recruit around 1,000 extra staff in Taiwan this year to boost its R&D efforts, cellular-news reported.