We crowned the HTC One the best phone in the world today, so it's no surprise that HTC is banking on the handset to turn its financial frown upside down.

Component supply woes meant that the handset launched in too few territories to make any impact on the company's income for the first quarter, with revenue of $1.45 billion (£932m / AU$1.4bn) a shadow of the same period in 2012.

But HTC, which has now released its official figures, says it expects to see a leap in money-making over the course of the current quarter - it expects to bring in $2.4 billion (£1.5bn / AU$2.3bn) over the course of April to June.

HTC One Billion

That's a lot of pressure to put on the HTC One which has been dogged by supply issues (as has its main rival, the Samsung Galaxy S4).

Peter Chou, HTC's CEO, described the less-than-stellar first quarter as a "pivotal" one and added that cash flow is not a problem for the company despite these results.

He also confirmed that HTC will continue to make Windows Phone handsets for the foreseeable future.

Via Engadget