Ailing smartphone manufacturer and VR specialist HTC posted a net loss of TWD1.84 billion ($62.6 million) in Q2, with the company pointing to the launch of high-end VR software and unveiling of two flagship handsets as positives.

The former global smartphone giant noted it had improved its margins for ten consecutive quarters. It, however, has not made a quarterly operating profit since Q1 2015, with net gains attributed to asset divestment.

HTC’s revenue in Q2 was TWD1.3 billion, down from TWD2.8 billion in Q2 2019, with its net loss an improvement on the TWD2.2 billion recorded in the comparable period.

In its business update the company highlighted a number of software releases and announcements for its Vive VR and XR headset targeting enterprises and consumers it defines as “the most demanding VR enthusiasts”.

Although a long way short of its once prominent position in the global smartphone market the company is still launching new devices, unveiling two new flagships for Taiwan during Q2, the HTC Desire 20 Pro and HTC U20 5G.

The latter is the manufacturer’s first 5G handset which it noted demonstrated its “commitment to help drive this next generation connectivity standard.”