Unconfirmed reports are detailing the grim situation for HTC – according to the China Business Journal the company shipped only 4.75 million of its One M9 flagship for the first three months of availability. That's nearly half the number of HTC One M8 units shipped last year for the same period, 43.75% down to be precise.

The Journal goes on to add that HTC's market value is down to just $2 billion, while at its peak it was close to $34 billion. Today the company's shares opened at NTD 78 at the Taiwan Exchange, continuing to slide since a sharp 9.9% drop a couple of weeks ago (the drop was capped by the exchange).

The drop was partly caused by HTC's issues to get into China. According to another local media (iiMedia Research) the cause behind that is that pricing is off, especially in the mid-range where local brands (Xiaomi, Coolpad and others) offer competing products at half or less the cost of a competing HTC Desire phone.

The HTC One M9 may not be doing too hot, but at least the company has the One M9+ launching in Europe next month. It remains to be seen if that will help or not, for now the company that helped launch Android is busy fighting off acquisition rumors.

Speaking of, the number of M9s shipped is just a rumor too, HTC has not announced an official number.

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