Hailed as a box-office hit shortly after its commercial debut, the HTC U11 can still be considered a good start for a new direction in the Taiwanese company’s evolution, even if the moderately popular squeezable phone ultimately failed to turn a profit.

Of course, HTC doesn’t just sell one device, so it’s entirely possible that the U11 actually made the OEM a bit of money in the April – June 2017 quarter, with other products and divisions flopping and cancelling out the 5.5-incher’s gains.

At the end of the day three months, HTC reported an operating loss of NT$2.2 billion and NT$1.95 billion net loss after tax, the latter number translating into a depressing -NT$2.37 per share for loyal investors.

On the plus side, if we can call it that, the 2.2 billion New Taiwan dollars equating roughly $72 million in US currency are down from NT$2.4B and a whopping NT$4.2 billion squandered during Q1 2017 and Q2 2016 respectively, which could mean the faltering tech giant’s “continued streamlining of processes and realignment of resources” are finally beginning to bear fruit.

Unfortunately, this is HTC’s ninth consecutive quarter in the red, so the pressure is definitely mounting. Shareholders will need to score a profit soon, not just lose a little less than before.

In terms of revenue, the total number is up sequentially but down year-on-year, from NT$14.5 billion and NT$18.9 billion respectively to NT$16.1B in Q2 2017. Already, July proceeds are down as the U11 starts losing steam, anticipating a far from stellar Q3 as well.

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