The world of smartphones is cutthroat, and it seems that HTC has fallen behind.

According to Network World, the company is falling behind and has effectively been declared worthless.

An analyst from Sinopac Financial Holding Co. in Taipei told Bloomberg that "HTC's cash is the only asset of value to shareholders."

He added, "Most of the other assets shouldn't be considered in their valuation because there's more write-offs to come and the brand has no value."

While brands like Apple Inc and Samsung can be blamed for the cutthroat competition, Network World said that HTC's biggest enemy is its own, as it is sorely a handset brand.

Unlike other companies - Samsung, for instance - which can risk losses because of its vast market, HTC is purely a phone maker who slipped in terms of its success.

While the HTC One series has been lauded by critics when it launched, the M9, which was a rehash of the M8, which was in turn a retread of the M7, just did not cut it anymore.

So what does this mean for the company?

Fortunately for HTC fans, production for the HTC One M10 is still ongoing, and because of the losses sustained by the company, it is more determined to execute making a phone for the books.

According to The Custom Android, there is still a possibility for HTC to break through as the One M10 is expected to be the best smartphone in 2016.

It is also expected to have some much-awaited features such as water and dust resistance, camera specification, and even battery and display upgrades.

Deccan Chronicle reported that these features will be available to the M10, with the added bonus of the latest flagship from HTC powered by Qualcomm's Snapdragon 820.

A website for the One M10 also pointed out that the phone's processor will be supported with an impressive 4GB of RAM.

The same website claimed that HTC will have the phone capable for Dual SIM, with support for 4G networks, as well as 2G and 3G infrastructure.

The phone, which is rumored to be released by the first quarter of 2016, will also boast of the latest Android software - Android M.

New capabilites such as fingerprint scanning, wireless fast charging, Touch ID, Iris Eye technology, and improved multitasking features are also among the named upgrades for the HTC One M10 according to Vine Report.

Do you think HTC can pull through with the One M10, or is the company really going under? That being said, what do you think about the M10 so far?