Initial media reports said that HTC was most likely shutting down one of its smartphone production lines.
When contacted by
The spokesperson said that 'HTC is not shutting down nor does it have plans to sell any of its factory assets'.
The spokesperson added that the HTC has a very strong balance sheet and will provide the latest financials in their upcoming earnings call to investors and the broader community.
After years of strong sales momentum, HTC has recently suffered a drop-off in sales.
Its flagship HTC One has so far failed to revive the struggling brand in the face of fierce competition from Apple and Samsung, the report said.
Earlier this month, the Taiwanese handset maker reported a net loss of
In an effort to regain market share, HTC's CEO
Chou added that he would also be handing off some of his other duties to the company's chairwoman and founder
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