HTC said its February 2016 revenue more than halved year-on-year, ahead of the introduction of new products intended to turn-around its performance.

Sales of TWD4.2 billion ($128.2 million) were down from TWD9.2 billion in February 2015, and down from TWD6.5 billion in January. So far this year, sales of TWD10.7 billion are half of the TWD21.5 billion seen in the first two months of 2015.

The ailing smartphone pioneer opted-out of the flagship smartphone race at Mobile World Congress late last month, although it did introduce a number of mid-tier products.

This is significant, because the company has previously bemoaned its weak performance at the high-end.

In its last conference call, it indicated that it expects improvements from the second quarter of 2016 – April onward.

HTC also began taking pre-orders for its Vive virtual reality headset, with reports stating that it sold more than 15,000 units of the $799 device in 10 minutes.

It is not clear if this is counted in HTC’s February sales, but the $12 million involved would hardly be transformative for the numbers.

While the company will have invested heavily in developing Vive, this is at least encouraging in that it is able to reap some reward from its efforts to diversify beyond smartphones.

But in comparison, VR headsets is a small market compared to smartphones, especially once early-adopter demand has been sated.