Taiwan smartphone maker HTC, which saw profits tumble 70 percent in the first quarter of the year, could make a comeback thanks to its recently-launched HTC One series phone, says an analyst.
"HTC One has got a positive feed back from the market and this model should help regain some of its lost ground from Apple and Samsung," Bonnie Chang, analyst at Yuanta Securities, told CNBC Asia's "
The company said Wednesday it expects revenues to bounce back in the current quarter to 105 billion Taiwan dollars ($3.6 billion) from 68 billion Taiwan dollars in the first quarter helped by the new HTC One.
According to HTC the new phone offers users a better camera and music experience in addition to a sleek design.
Taiwanese brokerage Yuanta while keeping a buy call on the stock has marginally cut its 2012 target price to 715 Taiwan dollar from 730.
However, most analysts are not as positive on the stock as HTC this year lost its spot as the top seller of Android based smartphones in the U.S. to Samsung.
Daiwa Securities, for example, have a sell on the stock with a target price of 320 Taiwan dollar.