The Taiwanese handset maker will undergo these reforms to bring down rates of its high-ended mobile phones. The official also revealed that the three mid-range Desire smartphones are using chips from ST-Ericsson, Spreadtrum and Broadcom, instead of Qualcomm.

HTC Desire 501 is installed with ST-Ericsson's U8520 dual-core processor, Desire 601 dual-SIM contains Broadcom's Java quad-core processor, and Desire 700 dual-SIM includes Spreadtrum's Shark quad-core processor.

The future plans of HTC target budget smartphone market as it witnesses wide range of users from developed as well as emerging nations. As per other media reports, the company is likely to sell its devices a quarter cheaper to raise profits in the October-December period.

Morgan Stanley forecast recently said that HTC will ship 3.5 million smartphones in the fourth quarter, a 34 percent drop from the previous quarter. The company's 2014 shipments will drop by an annual 33 percent to 14.5 million units, added the forecast. HTC reported it’s first-ever loss in the third quarter since going public in 2012.