HTC has reported a record quarterly loss of NT$9.81 billion (US$337.37 million) or NT$11.93 per share for the fourth quarter of 2017.

The company attributed the losses to intensifying market competition, an unfavorable product lineup and pricing, and inventory impairment losses.

For all of 2017, the company posted net loss of NT$16.91 billion or NT$20.58 per share. The losses, also the company's highest level for a year, were more than twice its capital of NT$8.2 billion.

Over the past three years, the company's accumulated losses totaled as much as NT$43 billion.

The company has been revamping its corporate structure and product portfolios, as well as allocating more resources to promote its VR business, in order to bring a turnaround, according to industry sources.

HTC said it will book in a significant amount of non-operating income in the first quarter of 2018 after the completion of its divestment of its smartphone ODM units to Google, whichwill enable it to continue its R&D efforts and build new technologies for long-term growth.