This time last year, HTC was under pressure as it was coming off the back of its lowest profits ever. Unfortunately, the passage of time hasn't altered the company's downward trajectory and today the Taiwanese phone maker is reporting a NT$1.88 billion ($62 million) loss for the first three months of 2014. That's the second time in three quarters that HTC has dipped into the red, having only broken even in Q4 2013.

HTC forewarned investors in its last earnings report to expect a losing start to the new year, but even its downbeat estimates weren't pessimistic enough. The company fell short of the expected NT$35 billion in sales, posting NT$33.12 billion, and disappointed analysts who had been predicting a narrower loss.

The January-to-March quarter was a quiet period for HTC in terms of new releases, though it culminated with the launch of the company's new flagship phone on March 25th. The 2014 edition of the HTC One, together with the more budget-minded Desire 816, is expected to drive Peter Chou and company back into the black, with the company promising to improve both revenues and bottom line numbers in the second quarter.