Taiwanese smartphone maker HTC says it will unveil its next flagship smartphone, the successor to its HTC One, March 25.

As with last year's event, the introduction will be held in New York and London, with New York designated as the main site, an HTC representative said in confirming the event to CNET.

The successor to the HTC One, codenamed M8, has a lot riding on it amid an ongoing fall in the company's sales and profits.

The HTC One was well liked by reviewers impressed by its stylish, all-metal design, but was somewhat ignored by a buying public distracted by the marketing blitz orchestrated by rival Samsung for its Galaxy S4.

With Samsung expected to unveil the Galaxy S5 at the upcoming Mobile World Congress in Barcelona, Spain, HTC will have it work cut out for it in trying to promote the HTC One successor phone.

Consumers are not likely to see a dramatic new phone, as the M8 successor is reportedly coming with just minor design tweaks and upgraded software.