Skip to main content

HTC finally hires a new CFO after more than two years of searching

  Image result for HTC

Fancy taking over the finances at an Android smartphone maker that is bleeding money, struggling on the stock exchange, without a component business unit to absorb the losses, and generally out of shape?

That’s probably not the job description that HTC put out for a new CFO, but, even with the most beautiful prose at its disposal, the company has certainly been challenged to fill the role. The Taiwanese mobile firm started looking for a new CFO in May 2014 and, more than two years later, the long hunt is finally over after it announcedthat Peter Shen, formerly of Taiwan-based Inotera Memories and HP, has taken the job.
Shen, whose full title is Chief Financial Officer and Company Spokesperson, replaces incumbent Chialin Chang, a regular voice on HTC investor calls, who will now revert to running the sales business.
CFO and sales chief are two hugely important positions for HTC, which has publicly struggled financially in recent years, right now.
Q1 2016 represented its fourth straight quarter in the red, with a $148 million loss for the period as quarterly revenue fell by a whopping 64 percent year-on-year. Aside from a spate of disappointing financial results, Chang’s tenure as CFO also saw the company spend time worthless, as it traded at less than its cash in hand, while things got so bad that it stopped providing financial guidance to investors and the public.
HTC’s phones are continuing to bomb in terms of sales — though they are generally well-received by media and loyal customers, like the HTC 10 — but the company is pinning its hopes of a comeback on a series of flagship smartphones and new tech initiatives. The company’s Vive VR headset, which began shipping at a faster two to three business day rate this week, is perhaps the most obviously new focus, alongside a suite of wearables, which include a partnership with Under Armor to develop a fitness tracker.
Can HTC turn it around? It has certainly been in a rut for so long that it is hard to see anything redeeming the company and restoring it to former glories, but the future is still to be told. Shen, Chang and co certainly have plenty on their plate for 2016 and beyond.

Comments

You may also want to read these ⤵️

Referee kills player in a football match

A referee is facing murder charges after football players allegedly forced him to

Do not watch this while driving

Kids are lovely and fun to watch most times. I know most of you did this and so many other funny stuffs as a kid. Feel free to share yours... Do not watch this while driving

The Pros and Cons Of COVID-19 Contact Tracing Apps

                Written by                Jack -  Guest author Contact tracing apps seem to be the new fad. Their popularity is also one that comes on the back of a series of unfortunate events. They seem to hold another approach to fighting the menace of a disease that has claimed no less than 400,000 lives worldwide. The widespread race to get these apps working can also be attributed to the coming together of two big names in tech, Apple and Google, to make the frameworks for such apps happen. Like every other thing, though, how does the scales tip in favor of, or against, these apps? The Case for Contact Tracing Apps In April alone, the US people lost more jobs than the economy had been able to gain in about a combined decade. More unemployment claims are filed daily, while companies do not take their staff out of furlough anytime soon. Businesses are folding up daily, too, especially those still p...

Over 40 Million Accounts Found Guilty

Microsoft has uncovered 44 million user accounts using usernames and passwords that have been leaked through security breaches.

RAW TALENT ep1 (freestyle by Gdlpeid)

Just watch! Freestyle by ''Gdlpeeid''. A rapper with a difference.  Pure raw talent.

These 10 Powerful Words And Phrases Defined The Decade

Honestly, it has been a wonderful decade to remember.  A lot has happened and a lot has been spoken also. But our focus is on the words and phrases spoken.  Below are words and phrases spoken between 2010 - 2019 that defined the decade.....

By February 2020 - WhatsApp Will Stop Working on These Phones

Every now and then, WhatsApp does fish out a list of old phones for which support is discontinued and if you have an old phone lying around as a backup, you might want to read on.

Apple Has Released iOS 13.2.2 And Fixes Major Issue

All thanks to Apple,  the tech  giant just released iOS 13.2.2, which addresses the issue of background apps being killed prematurely, along with a handful of other annoyances.

This Magnetic thread Can Be Used To Clear Blood Clot in The Brain

Link from mashable.com  Researchers at MIT developed a thread that can be steered magnetically to glide through the brain's blood vessels and

This gigantic monster device turns wave energy into electricity

This 826-ton buoy was developed by OceanEnergy to turn wave energy into electricity. IEEE Spectrum reported that "OE Buoy" was towed from Oregon to Hawaii, where it will undergo a series of tests that will prove whether it can withstand the battering waves while generating electricity. Click the link below to watch the video..