Things haven’t been going well for HTC over the past few quarters and it was a similar story in the final quarter of 2016. The company’s dismal sales continued in the previous quarter which is why it continues to bleed money. HTC posted a 13 percent decline in year-over-year revenues. The only silver lining is that last quarter’s losses are slightly lower than what the company has posted in previous quarters.

HTC didn’t really launch any major products in the final quarter of last year, only a couple of low and mid-range smartphones, which is why no uptick in sales is visible during this period. The company does point out that it reduced operating expenditure by 34 percent and that it’s going to work on increasing revenue throughout 2017.

The company also has its hopes pinned on the Vive virtual reality headset which has done well for itself. It’s also pushing forward with its VR ambitions by launching the first Vive-based arcade and an in-house VR development team called Vive Studios.

HTC has already made a change in its smartphone strategy by launching the U Ultra and U Play last year. They’re high-end devices with respectable specifications and a new virtual assistant called Sense Companion. It’s also expected to launch an additional flagship smartphone at some point later this year.

Filed in Cellphones. Read more about HTC.

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