Owners of the HTC One M8, HTC's current flagship smartphone, have reported performance issues after updating to the new Android 5.0 and 5.0.1 Lollipop operating systems.

HTC is making big news these days with the imminent release of the HTC One M9, the company's new flagship smartphone. The handset is packing some impressive specs and will compete directly with the iPhone 6 and Samsung's also soon to be released Galaxy S6 and Galaxy S6 Edge.

HTC also just revealed that it will be introducing its new, free "Uh-Oh" replacement program for the latest handset, which covers damage to the device for a full year and promises a free replacement unit in case of issues such as a cracked screen, water damage and even a switch of carriers. Users who don't use the coverage during the first 12 months will instead receive a $100 credit toward the purchase of any new HTC smartphone. HTC also announced that the One M9 will become available in the U.S. on April 10.

Also making news for HTC are some performance issues with the HTC One M9's predecessor, the HTC One M8, which was recently upgraded to the latest version of the Android 5.0 Lollipop OS on most major U.S. carriers. T-Mobile and Sprint have rolled out Android 5.0.1 Lollipop to the devices on their networks, while Verizon just pushed Lollipop 5.0 to owners of its version of the handset.

Among the issues reported are freezing and force closing of apps, a decrease in frame rates, and a lag when using the smartphone for heavy gaming. Although the OS was specially designed to increase user battery life on Android devices, many HTC One M8 owners are actually reporting decreased battery life instead. In addition, the latest version of the HTC Sense UI is not running smoothly and forcing user reboots. Hopefully, when Android 5.1 Lollipop is released for the device, these performance issues will be resolved. We'll keep you posted.

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