It's smiles all round in the HTC camp today, as the company's first quarter results make for more than happy reading.

According to the handset maker, HTC managed to make a profit of 14.83 billion Taiwan dollars (£315 million) in the first quarter of 2011, which equates to a year on year rise of 196.8 per cent.

A lot of this chunk of change was put down to how well the company has embraced the Android market, with hyperbole-infused handsets like the Desire S and Incredible S "met with strong customer demand and numerous accolades," according to the company.

Phenomenal quarter

"Thanks to the hard work of our employees and support from consumers worldwide, we had a phenomenal quarter with record sales and profits," said Peter Chou, HTC's CEO.

"Our innovation and leadership in technology has taken us to new highs. Our brand has been increasingly recognised by customers. And we will continue to focus on delivering the best smartphone products with cutting edge technology, user friendly interface, and premium lifestyle design."

HTC has said that it will be investing some of its profits in ramping up its R&D department with 1,000 new employees. These will no doubt be adding to the 82 issued patents and 14 patents applications that the company has created over the last year.