HTC took a big hit in the past 12 months which has left the company with a 64% decline in year-over-year revenue. Its latest earnings report shows it had four consecutive quarters with losses, with it losing $148 million from January 1 to March 31. HTC is pushing forward with its restructure in an attempt to fix the decline.

The quarter included little revenue partially because neither the HTC 10 nor HTC Vive are contributing yet. However, the 64% decline is still troubling.

Chialin Chang, HTC's CFO, says the company will "trim expenses" to improve future reports. It has already reduced costs to some extent by selling land and property. Chang says HTC may break even with its smartphone division by Q3, but that's only an internal goal for right now.