HTC's chief financial officer Chialin Chang has confirmed the company will start building and selling handsets at around $150 - $300 (£90 - £180) alongside the rumoured HTC One M8 this year in an effort to return to profitability.
Despite producing the HTC One, T3's Gadget and Smartphone of the Year, the Taiwanese company suffered financially and saw its profits fall 83 per cent in the second quarter of 2013 compared to 2012.
Moreover, it's global market share is down to just two per cent compared to Apple and Samsung.
HTC's Co-founder and chairperson Cher Wang, speaking alongside Chang, confirmed to Reuters that the company focused too much on the One instead of rivaling cheaper handsets like the Motorola Moto G or the Google Nexus 5.
"The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier," she said.
Wang and Chang explained the new strategy will see HTC focus on emerging markets like China, but also said the company won't be making anything in the low-end market under $100.
Of course, the internet rumour mill is already in overdrive about the new flagship HTC is planning to reveal at Mobile World Congress this year. The latest information says the phone may be launched at the end of March.
Throw in the news that HTC is also working on a wearable gadget and you have what is shaping up to be a big year for the Taiwanese company.