HTC Corp announced Q3 2011 results and  a net profit growth of 68%. The Taiwanese designer and manufacturer of smartphones has been firing on all cylinders.

HTC smartphones are a hit with consumers who are clearly walking away from the traditional keyboard and small screen cell phones in favour of full touch screen models. HTC is unlocking its potential and rolling out the the new Rhyme and Sensation 4G models.

HTC has gained market share in the USA, Europe and Asia even against fierce rivals like Blackberry, Apple iPhone, Samsung, Sony Ericsson and Motorola. Having been one of the first wireless device manufacturers to adopt Google’s Android firmware, HTC has now become the fifth largest producer of smartphones in the world. It still produces some models with built in Microsoft Mobile Software.

In an effort to surpass and compete against the aura of cool that has positioned the Apple iPhone so well on world markets, HTC has completed numerous strategic acquisitions, including that of headphone maker Beats.

However, what the upcoming year will bring is anyone’s guess? With consumer confidence dropping and a weak global economy, the outlook for smartphone sales in such a competed market space is probably one of reduced sales. Only those that can roll out technologies that are truly game changers will continue to lead the pack. Apple’s release this week of the iPhone 4S instead of the highly anticipated iPhone 5, might give HTC the extra time it needs to roll out a game changing wireless device.