HTC has reported a net loss of NT$3.1 billion (US$98.065 million) or NT$3.71 per share for the second quarter of 2016. For the first half of 2016, net losses totaled NT$5.7 billion or NT$6.87 per share.

Second-quarter losses came after the company saw its revenues grow 27.7% on quarter to NT$18.9 billion and its operating margin narrowed to negative 22.5% from negative 32.4% a quarter earlier.

For the first half of 2016, revenues totaled NT$33.7 billion, while operating losses reached NT$9 billion and pre-tax losses were NT$5.5 billion.

Revenues were up sequentially in the second quarter due to increasing shipments of its HTC 10 flagship smartphone and the HTC Vive, the company said.

HTC's smartphone business unit is expected to reach breakeven in the third quarter of 2016 as the company will push sales of the HTC 10 to more markets, said the vendor.