HTC has reported consolidated revenues of NT$5.197 billion (US$171 million) for March, increasing 11.3% on month and 25.41% on year mainly due to booming global shipments of its Ultra series smartphones.

For the first quarter of 2017, revenues totaled NT$14.531 billion, decreasing 45.3% on quarter and 1.96% on year.

However, the company is likely to see its losses narrow sequentially in the first quarter thanks to the sale of an idle plant in Shanghai. HTC is expected to book an income of CNY147 million (US$21.3 million) for the property sale. It posted a net loss of NT$3.77 per share in the fourth quarter of 2016.

The company reportedly plans to add a new model to its U-series lineup, dubbed the HTC Ultra, in April to maintain its sales momentum in the second quarter. The new smartphone will feature a 5.5-inch display without a Home button and Qualcomm Snapdragon 835 CPU, according to industry sources.

The company's stock price edged up NT$0.20 to close at NT$79.20 on the Taiwan Stock Exchange (TSE) during the April 6 session.