Asus, a relatively unknown smartphone OEM outside of certain markets of the world, has not ruled out the possibility of acquiring HTC.

Responding to one of the questions raised at the company’s annual general meeting, Asus Chairman Johny Shih said that the company can acquire struggling Taiwanese smartphone maker HTC.

While Asus has not ruled out acquiring HTC, the chances of it actually happening are pretty much slim. According to David Chang, CFO of Asus though, the company has traditionally relied on “organic growth,” so the chances of the company taking over HTC are “not as big”

At one point of time, HTC was among the most popular Android smartphone maker in the market, but the company has steadily lost its market share after peaking in 2011. The last few quarters for the company have been particularly tough as it has struggled to eek out even a slim profit.

The disappointing reviews and sales of HTC One M9 have led HTC to forecast a steep loss for the quarter ending on 30th June. The company’s CEO Cher Wang recently promised shareholders that HTC will be launching a new ‘hero’ product in October this year, and its 2016 flagship will have some major innovations and improvements.