HTC names Cher Wang as its New Chief Executive
Published By : 20 Mar 2015 | Published By : QYRESEARCH
HTC Corp has named company’s founder Cher Wang as its new chief executive, giving the chairwoman and founder a bigger role in leading a projected turnaround of the Taiwanese smartphone manufacturer.
Cher Wang belongs to one of the most prominent families of Taiwan. Her return to power in HTC comes at a point when HTC phones have struggled to transform early positive reviews into strong sales and when the company, formerly a contract manufacturer, has found it difficult to build a strong name for its consumer brand in the global market.
HTC has said that Wang has been increasingly involved in handling various business aspects of the company. Cher Wang will replace Peter Chou, who will now lead the product development department of the Future Development Lab of the company. The role will be that of an executive, and will focus on identifying growth opportunities in the future.
Peter Chou is known for a larger focus on research and development activities, so the change is positive in that regards. But Chou has also built an abrasive manager’s reputation over the years of his leadership at the company.
HTC has also recently changed announced that it has filled the vacant post of its marketing chief.
Revenues of the company, which once had a nearly 10 percent share of the global smartphone market, have largely seen a flatline in the past years, after gradually declining over the past two years.
Net income of the company has become even worse over the years, with the company registering either negative profits or extremely slim profits since hitting a high in the third financial quarter of 2011. HTC is trying to diversify into other markets such as that of the connected devices like key competitors such as Apple Inc. and Samsung Electronics.