Taiwanese smartphone manufacturer HTC reportedly reshuffled its senior management with the appointment of a new acting CFO, in a bid to boost global sales.
The company promoted Edward Wang to the acting CFO role to enable its existing finance boss, Chang Chialin, to concentrate on his other remit as head of global sales, Bloomberg reported, citing company sources.
Chang was appointed CFO in April 2012, but HTC added the sales role to his responsibilities in December amid falling sales and profits. At the time, the company said Chang would transition his CFO role, but only when the time was right, Bloomberg noted.
The company reported a post-tax net loss of TW$1.88 billion (€44.8 million/$62 million) in the first quarter of 2014, down from a profit of TW$0.31 billion in the fourth quarter of 2013, and TW$85 million in the first quarter of 2013.
In early April, management forecast a return to profitability in the current quarter, and predicted revenues would grow sequentially.
HTC has slipped out of the list of global top 5 smartphone vendors in recent quarters, as rivals including Huawei and Lenovo begin to cement their position among the top tiers of device makers. In February, IDC analysts noted that flagship models like HTC One must be backed by lower-cost versions of the same device, after sales of sub-$200 (€144) smartphones grew to account for 42.6 per cent of global sales in 2013.
The management reshuffle comes as HTC confirmed its chief designer, Scott Croyle, is stepping down from the role. Croyle is credited with lifting the company's fortunes by designing its popular HTC One smartphone, and will remain involved with the company as a consultant in the coming months, The Verge reported.
Croyle's deputy, Jonah Becker, is tipped to replace the outgoing design chief, and the company is also acting to simplify its structure with changes to its user experience team, The Verge added.
For more:
- see this Bloomberg article
- see this report by The Verge
- see HTC's 1Q14 results
- see HTC's 4Q13 results
- see HTC's 1Q13 results
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