HTC is having a torrid time at the moment, with plenty of things going wrong for the company at the moments. Sales have tumbled thanks to the poor reception of the One M9 flagship, while shares have hit a 10 year low and are continuing to slide. The bad news shows no sign of ceasing as it is being reported today that the company has lost all of its brand value.

The Taiwanese giant has saw its market value (currently $47 billion NT), below the $47.3 billion NT that the company has. It was a 60% decline in value that hurt HTC, essentially meaning that everything that the company holds (brand, products, buildings, etc.) are now completely worthless to shareholders.

“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,” claimed Calvin Huang, a representative of Sinopac Financial Holdings Co.