What's wrong with HTC?

I'm a casual observer of Android and would like to ask the Army what they make of the not so recent news about HTCs falling sales and profits. I've read some of the articles regarding this and have seen comments about the lack of SD-Card and accessible battery but it's safe to say that these are not things that would dissuade the general public from buying HTC.

I do notice they've trimmed down the portfolio so maybe this is a contributing factor? It's generally a toss up between which is better between the GSIII and the One X, but I would have at least thought the stunning design of the latter would win it some fans and make an impression in store. Of course, there's more to the story than these two phones, but I was hoping for HTC's revival since their new phones are really good.

So what is HTC doing wrong? I understand that Samsung has lower costs, but I'm talking from a sales perspective, which have been reported as being disappointing in Europe. As an aside it's a bit annoying to see the carriers harp on about the need for competition in regards to handsets, yet damage HTC's branding by releasing their own variants of the One X - this seems counter intuitive and a two phone market will not be desirable for a plethora of reasons.