Sure, HTC has become somewhat profitable lately, but that’s only because the company has taken some pretty significant cost cutting measures. From a sales standpoint, HTC’s revenue continues to shrink despite the fact that its flagship smartphones earn widespread praise every year as some of the best in the world.

The Guardian’s Charles Arthur has posted a chart tracking HTC’s aggregate revenue throughout 2014 and so far this year, HTC’s revenues are even worse than they were in 2013, despite the fact that its HTC One (M8) has been one of the year’s most critically acclaimed new releases. In fact, it looks as though HTC is on track to post its lowest total revenues since 2009, which is a pretty depressing milestone for the Taiwanese handset maker.

What can HTC do to stop the bleeding? So far we know that the company is going to release a Windows Phone version of the HTC One (M8) and we’ve heard rumblings that it might release an Android Wear smartwatch before the year is over. Neither of those exactly sound like blockbusters, although the company has also reportedly been tapped by Google to make a new Nexus Android tablet that seemingly has more potential to bring in cash than the other projects we’ve mentioned.

One thing we feel safe in predicting, however, is that HTC won’t get suckered into making another Facebook phone, no matter how bad things get.

Prior to joining BGR as News Editor, Brad Reed spent five years covering the wireless industry for Network World. His first smartphone was a BlackBerry but he has since become a loyal Android user.