HTC's financial report for Q4 2016 has revealed a smaller loss but a further decline in year-over-year revenue of 13%. The company had a $116.8 million loss compared to $133.1 million during Q4 2015. Revenue fell to $720.7 million.

Those figures aren't great, but the drop in revenue and the loss aren't as significant as HTC has reported in the past.

Gross margin was also down year-over-year from 13.9% to 10.5%. Its operating margin of 16% was about the same.

During 2016, HTC was able to deliver a 34% cost reduction through "aggressively managed" operating expenditures.