The struggling Taiwanese phone maker HTC Corp says it will now focus on the budget smartphones in emerging and developed markets.

In an Interview to Reuters, HTC co-founder and Chairwoman Cher Wang said that the company needs to sell more mid-tier and affordable smartphones after losing out in 2013.

The agency quoted him as saying, “The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market."

Chialin Chang, HTC's Chief Financial Officer said that HTC would sell products in the $150 to $300 retail price range for both emerging and developed markets, along with high-end phones which can sell for over $600. HTC won't get into the "very, very low-end market", Chang said.

The company has been suffering from the blows, having had two consecutive quarters of losses, and a market share that has just 2 percent, according to Neil Mawston, an analyst for Strategy Analytics.

UBS Securities estimated on Feb. 6 that HTC's shipments could drop from last year's 21.9 million units to 20.2 million units this year, while its average selling price would increase slightly from US$306 to US$308, according to focustaiwan.