HTC has reported consolidated revenues of NT$6.477 billion (US$194.3 million) for January 2016, down 0.2% sequentially and 47.23% on year.

The company will not unveil its new flagship model, likely to be named HTC One M10, at the upcoming MWC 2016, and therefore the new flagship model will not contribute revenue growth until the second quarter, according to a Chinese-language Liberty Times report, citing company president of global sales and CFO, Chia-lin Chang.

HTC also plans to reduce the number of new smartphones to be launched in 2016 by about 50%, from 24 released in 2015, Chang said, adding that the company will also reduce the number of smartphones outsourced to contract makers.