We missed a huge chunk of the mid-tier market," said co-founder and Chairwoman Cher Wang, speaking to Reuters in an interview in New York last week alongside Chang. Amid the decline in its fortunes, HTC's brand image has suffered, and investors have been desperate for signs of a clear strategy - though the announced push into mid-tier smartphones may offer a glimmer of hope for the company. The CFO said on Monday that new mid-tier and low-end handsets should provide the majority of revenue, bar sales from its flagship HTC One phone, after the first quarter. For January to March, it expects revenue to fall to T$34 billion to T$36 billion from T$42.8 billion a year earlier. The company in January reported its second consecutive quarter of operating losses, with a slim net profit of T$300 million ($10 million) for the fourth quarter helped by an asset sale.