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We investigate the electronic and thermoelectric properties of GeTe in both cubic and rhombohedral phases. We find that cubic GeTe has an electronic structure with a narrow band gap that is unfavorable at high temperature, where the cubic phase is normally stable. However, cubic GeTe has electronic features that may lead to p-type performance superior to the normal rhombohedral phase at lower temperature. This is explained in part by the combination of light and heavy band character that is very effective in obtaining high thermopower and conductivity. In addition, the valence band edge carrier pockets in cubic GeTe possess the largest anisotropy among cubic IV-VI analogs. These effects are stronger than the effect of band convergence in the rhombohedral structure. The results suggest further study of stabilized cubic GeTe as a thermoelectric. [ABSTRACT FROM AUTHOR]