UPDATE 1-New products help HTC Q2 profit beat forecasts

* New line of products help cushion it from slowdown

* Revenue meets previous double-digit growth forecast

* Shares up 41 pct this year vs 44 pct gain on big board (Adds quotes and comments)

TAIPEI, July 6 (Reuters) - Taiwan's HTC (2498.TW), the world's fourth-largest smartphone brand, reported a better-than-expected second-quarter profit on Monday, as a line of new products helped cushion it from the economic slowdown.

HTC said it made a net profit of T$6.49 billion ($197.1 million) in the quarter ending June, down 2 percent from the same quarter in 2008 but beating analysts' forecasts of a T$5.735 billion net profit.

The company did not provide any guidance in its statement, but said last month it expects full-year shipments to be 20 percent higher than previously forecast amid the growing popularity of feature-jammed smartphones. [ID:nTP95844]

"Profit margins are looking very healthy," said Vincent Chen, an analyst at Yuanta Securities.

"That's probably because of the new models that HTC is pushing out right now, and the biggest question now is whether such a high margin is sustainable."

HTC was the first smartphone brand to launch a model running on Google's (GOOG.O) Android operating system, a move some analysts say has given the company a headstart against its rivals in the highly competitive sector.

The company announced its results after the end of trading on Monday. Its shares were down 1.7 percent, worse than a 0.23 percent decline on the benchmark TAIEX share index .

The company's shares have lagged the big board so far this year, climbing 41 percent against a 44 percent advance on the broader market.

Revenue in the April-June quarter grew 10.34 percent from 2008 to T$38.2 billion, barely meeting the company's forecast of double-digit revenue growth.

HTC said in March it intends to keep its full-year double-digit revenue growth forecast, and that it expects much of that growth to come from the second half of the year as it pushes out new smartphone models ahead of the peak holiday shopping season. [ID:nTP323181]

Competition has been growing in the smartphone sector this year, with newcomers such as Acer (2353.TW) and Asustek (2357.TW) going head-on against bigger players such as global leader Nokia (NOK1V.HE) and Blackberry maker Research in Motion (RIM.TO). (Reporting by Kelvin Soh; Editing by Muralikumar Anantharaman)