HTC's latest earnings are in and it's not good with the company posting poor revenue and poor profit numbers for the first quarter of 2013.

HTC posted quarterly revenue of NT$42.8 billion (£930 million), with gross margin of 20.3 per cent and operating margin of 0.1 per cent. Net profit and EPS were NT$85 million and NT$0.1 respectively. Chou hopes that Q2 revenue will increase dramatically to NT$71billion.

“This was a pivotal quarter for HTC,” said Peter Chou, its CEO, trying to put a brave face on the shocking results. “In February our teams set a new standard for smartphones, launching the new HTC One. The reviews of fans and critics alike have been overwhelmingly positive and we look forward to delivering on the promise of this device.”

HTC is hoping the newly launched HTC One will do well enough to perform against the likes of the Samsung Galaxy S4, the iPhone 5 and the Sony Xperia Z and save the company.

HTC has fallen from grace in recent times after several misguided launches and a lack of focus. At one point the company stocked more than 60 different handsets, but has now ditched the more of everything approach to try to guarantee the success of at least one handset.

That said, the company has confirmed it is sticking with Windows Phone for the time being.