Obatuga Elisha

Taiwanese handset maker release net loss of $101 million since going public in 2002 as its flagship HTC One has so far failed to revive the struggling brand in the face of fierce competition from Apple and Samsung.

HTC says, it records a net loss of NT$2.97 billion ($101 million) in the three-month period ended September 30. The company reported a net profit of NT$3.9 billion in the year-ago period.

After years of strong sales momentum, the company suffered a recent drop off in sales. The HTC One was delayed earlier this year due to technical issues, contributing to a 70 percent fall in net profit during its 2012 first quarter.

Already grappling with weakened sales for the HTC One, the handset maker is facing HTC One Mini supply problems due to a casing shortage, the result of difficulties in its design.

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