HTC’s new CEO and chairwomen, Cher Wang, told in an investors meeting yesterday that the company will be launching a new “hero product” in the smartphone segment in October.

The chairwomen apologised for the poor performance of the company in recent times, but promised that things will change for the better later this year. She also promised that HTC will be making major improvements in the design and innovation of its 2016 flagship.

“In an effort to improve the company’s smartphone segment, HTC’s core business, Wang said the company plans to launch a ‘hero product’ in October, and make significant improvements in innovation and design for the next flagship model next year.”

It is likely that HTC will be introducing a new phablet phone to take on the likes of the Galaxy Note 5 and the iPhone 6s Plus later this year.

To further improve profitability, HTC will also be looking to reduce its production cost and improve production efficiency. Wang also revealed during the meeting that HTC will not be renewing its contract with actor Robert Downey Jr. for advertising its product once it expires at the end of this year.

HTC managed to impress consumers with the One M7 and One M8 over the last two years, but completely dropped the ball with its 2015 flagship — the One M9. Compared to its competition, the One M9 is inferior in every possible way, and in some areas, it has even regressed when compared to the One M8. The disappointing flagship have led HTC’s share to fall to a 12-year low of NT$98.