HTC has reported its first ever quarterly loss in its financial reports for the three months ending September 2013.
Posting a net loss of 2.7 billion Taiwan dollars (£62 million), HTC has slipped into the red for the first time, despite launching the HTC One flagship range of smartphones.
Struggling to compete with the likes of Samsung and Apple, the Taiwanese smartphone manufacturer has seen sales strongly affected by supply chain issues and internal company turmoil.
The company also posted a 3.5 billion Taiwanese dollar (£74 million) operating loss, recording a sales figure a third less than for the same period last year.
HTC may follow in the steps of BlackBerry and Nokia, looking for a larger company to buy out the ailing manufacturer and assist in the future.
However, HTC has been adamant that a sale is not an option, despite analysts suggesting the outlook for the future is rather bleak.
“Fundamentally there are a lot of things that need to be fixed,” said Laura Chen at BNP Paribas. “[There is] no sign of recovery anytime soon.”
Analysts suggest HTC needs to address its marketing, suppoly chain management and streamlining its product line.
Although HTC CEO Peter Chou is not agreeing to any interviews, HTC has offered this statement to Reuters:
“HTC’s board and broad employee base remain committed to Peter Chou’s leadership. The (Flagship) HTC One product family – which has been met with accolades by media and consumers alike – was a result of Pete’s vision and leadership, and speaks for itself.”
The HTC One was released in February to great critical acclaim due to its aluminium design, improved HTC Sense UI and UltraPixel camera technology.
HTC has since released the HTC One mini as a 4.3-inch alternative to the flagship model.
Next, read our pick of the best mobile phones of 2013.