HTC has today announced its unaudited financial results for the second quarter of 2013, and despite help from the widely-praised HTC One, they do not look good. The Taiwanese firm made just NT$1.25 billion ($41 million) after tax from NT$70.7 billion ($2.35 billion) revenue, which is a staggering 83% fall from the same quarter last year.

HTC is famous for quickly rolling out one smartphone after the other, and the Taiwanese company often unveils a handful of flagship devices each and every year. But high-end handsets made by HTC could soon become a rarity. The company is reportedly set to switch its focus to cheaper smartphones for emerging markets as it loses more ground to Apple and Samsung.