HTC has posted its lowest quarterly profit since 2004 – just £1.8m for Q1 2013 on revenues of £930m.

The struggling Taiwanese company has seen its profits after tax drop by 98 per cent from the identical time a year earlier. Profit margins on its products have also been falling, going from 25 per cent to twenty per cent over the process the year. HTC’s CEO Peter Chou said this was right down to the company’s product mix, having launched a lot of new handsets.

HTC said it believes that Q2 will see an improvement, almost doubling its revenue to £1.5bn, with its profit margin expected to extend to between 22 and 24 per cent.

In an earnings call, Chou said the corporate can be targeting marketing itself as an international smartphone brand, particularly in China, North America and Europe, and pushing the HTC One handset. He said they’ll also continue to support the Windows Phone 8X.

Earnings per share were just 2p for the quarter. The return was just 12p a year ago.