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HTC has today released its 2014 fourth quarter unaudited consolidated results, seeing revenue and profit rise year-on-year.HTC posted quarterly revenue of NT$47.87 billion (around $1.84 billion), up from NT$42.9 billion year-on-year, while net profit after tax of NT$470 million was up from net profit of NT$310 million in last year’s corresponding quarter.

HTC reported operating profit of NT$180 million for the quarter.

As reported by The Wall Street Journal, rolling out more mid-tier phones, along with streamlining costs, has helped HTC stay profitable in recent quarters, however analysts believe the company faces a daunting task to reverse sliding sales, with the smartphone market set to become even more crowded in 2015.

Growing competition is creating pressure at both the premium and more budget ends of the market, with established players, such as Apple, seeking to further expand premium market share.

Meanwhile, low-cost competitors, such as Xiaomi, which has rapidly grown market share in recent times, are looking to secure further market share in the more budget category.

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