HTC has reported a fifth consecutive quarterly loss in net profit which is also its lowest level since 2006.
The smartphone manufacturer has plummeted by 79 per cent in its year-on-year returns as it continues to lose market share to competitors Apple and Samsung.
The beleaguered mobile manufacturer earned a net profit of $34.48 million (£21.22 million) in Q4 of 2012, which is a 91 per cent drop from the $379.5 million (£233.5 million) it recorded in the corresponding period from 2011.
"Our competitors were too strong and very resourceful, pouring in lots of money into marketing. We haven't done enough on the marketing front," said HTC CEO Peter Chou in an interview with The Wall Street Journal.
However, the phone executive believes that 2013 could see a resurgent performance from his company as he hopes that new innovation will return HTC to a top 3 position globally.
"The worst for HTC has probably passed. 2013 will not be too bad," Chou told the publication.
"Although we don't have as much money to counter [Samsung and Apple], the most important thing is to have unique products that appeal to consumers… we are being more flexible now. We are constantly fine-tuning our sales plans and position in various markets,” he continued.
However, the firm’s employees don’t seem to share Chou’s optimism as HTC management has yet to outline a strategy for improvement to its staff.
“Most of us still don’t know how HTC can make a comeback this year as the top managers didn’t tell us any solid plan or direction,” revealed an unnamed HTC worker.