HTC One sales are in the tank, company cuts phone revenue forecast

The one-time great white hope for pretty Android phones, HTC, has fallen on rough times. The phone that was supposed to help the Taiwanese company recapture its design prowess — the HTC One — is selling poorly amid competition from the Samsung S6 and the iPhone 6.

HTC Friday cut its second quarter revenue guidance and said that it might take a loss in the second quarter after four straight profitable quarters.

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HTC had expected revenues between $1.48 billion and $1.56 billion (in U.S. dollars) for the second quarter, but now expects revenues of between $1.06 billion and $1.16 billion.

HTC cited poor sales of “high-end Android devices,” which means the HTC One. The company says its sales in China have been suffering because of the success of premium phones from Xiaomi, Apple, Samsung, and LG.

“In recognition of prevailing market conditions, HTC has embarked on a comprehensive review on our assets based on current business conditions and future operational needs,” the company says in a statement.  As a result, HTC took a one-off impairment charge of $92.8 million U.S. for “idled assets and some prepaid expenses.”