HTC appears to be trying to do everything they can to right the ship and return to the double digit growth they had in 2011. The latest news is that HTC has released their CFO Winston Yung, and has hired the former Goldman Sachs Taiwan employee, Chia-Lin Chang, to replace him. This surprising change along with Samsung’s recent announcement of the Galaxy III caused the Taiwanese company’s stock to drop as much as 6% on Tuesday. This is not a good sign for a company looking to reclaim some of its’ former glory.
HTC has seen a steady decline in profits recently as it has struggled to compete with Apple and Samsung. The HTC One line, announced earlier this year at the Mobile World Congress, is one strategy that HTC hopes will help differentiate it’s phones from other manufacturers in the highly-competitive Smartphone market. Samsung announced that they are going to be releasing their new Galaxy S in May, which is a month earlier than was anticipated. The Galaxy line has sold over 40 million units since the first Galaxy was released in 2010.
The HTC One series is equipped with a speedy graphics processor and advanced music and photographic functions and the feedback so far from analysts and tech bloggers has been mostly positive.
Do you think this is a good step for HTC to help turn things around?
Source: Reuters
