HTC CEO steps back to focus on fixing smartphone slide - FT

TAIPEI Sun Oct 20, 2013 10:02pm EDT

TAIPEI Oct 21 (Reuters) - HTC Corp's chief executive has handed some duties to the company's chairwoman as the smartphone maker struggles to claw back market share from Apple Inc and Samsung Electronics Co Ltd, the Financial Times reported.

Chief executive Peter Chou is temporarily focusing on innovation and product development after HTC's latest One handset failed to arrest a slide in the company's share of the global smartphone business, the newspaper reported.

Cher Wang, chairwoman and company co-founder, is stepping up her duties to include sales, marketing and supplier relationship, it said.

H. T. Chou, another co-founder, has returned to the company to head certain phone projects, said a source with knowledge of the matter.

HTC, which posted its first quarterly loss this month, has been laid low by the product and marketing might of Apple and Samsung - woes that have been exacerbated by supply-chain constraints and internal turmoil.

Once ranked among the top five phonemakers by shipments, HTC this year fell out of the top 10, according to Gartner.

HTC officials were not immediately available for comment.

Shares of HTC fell 1.1 percent minutes after market opened, lagging the main index's 0.06 percent dip.

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Comments (1)
2342tseves wrote:
Oh, poor peter chou, can’t handle the work so he has to depend on the chairman to do his job.

Meanwhile, people like Sergio Marchionne is running two much larger companies, one in Italy, one in the US.

Peter Chou should quit and HTC needs to hire competent senior leadership that can bring them back. Get rid of the old guard, which smack of cronyism.

Oct 20, 2013 10:17pm EDT  --  Report as abuse
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