Former HTC CEO Peter Chou is staying with the struggling smartphone maker but is also taking on another role: executive director at Hong Kong-based digital effects company Digital Domain.
HTC named Chairwoman and co-founder Cher Wang as its new CEO, replacing longtime CEO Peter Chou. However, Chou is not leaving the company. Instead, he will lead HTC's "Future Development Lab," where he will be focused on future product development and growth opportunities for the firm. The shakeup is in many ways the culmination of a process that began in October 2013 when Wang took over some of Chou's day-to-day duties running the company so he could focus more on products.
HTC announced its latest flagship smartphone, the HTC One M8, which is an improvement over the original HTC One's software, camera and industrial design. HTC also has secured strong carrier distribution, especially in North America, in hopes it can gain inroads on Samsung Electronics' Galaxy S5, its main competitor for the moment in the high-end smartphone market.
BARCELONA, Spain--Making good on its promise from earlier this month to push less expensive phones, HTC announced two mid-range smartphones in its Desire family here at the Mobile World Congress trade show. The smartphone maker aims to transfer the high-end design sensibility of its flagship One to products with lower price points.
Smartphone maker HTC said it will return to making less expensive smartphones in an effort to shore up its shrinking revenues. The announcement comes about a year after the company first announced its high-end, flagship One smartphone, which was relatively well received but failed to ignite sales at the Taiwanese vendor.
HTC said that current CFO Chialin Chang will also serve as global head of sales for the time being as the Taiwanese smartphone maker works to reverse sales declines and spark a turnaround.
HTC is considering outsourcing some of its handset manufacturing to outside contractors, according to multiple reports. Additionally, Reuters reported that HTC has halted at least one of its four main manufacturing lines, which accounts for at least a fifth of total capacity, as it looks to improve its cash flow amid declining sales.
HTC Chairwoman and co-founder Cher Wang has taken over some of the day-to-day duties of CEO Peter Chou so he can focus more on products, in what is being positioned as a temporary move to help the struggling smartphone maker right the ship.
HTC CEO Peter Chou has said he has no plans to step down and the company is making progress in turning around sales through its flagship One smartphone and its variants. However, a portrait painted by an in-depth profile of Chou by Reuters indicates that insiders in the company view Chou as an obstacle to a revival in the struggling company's fortunes.
HTC, struggling to gain traction on the back of its flagship One smartphone, warned that it could post an operating loss for the third quarter, which would be its first since it became a public company in 2002. The smartphone maker also said it will release more mid-tier products to help it shore up its business.