Android Titan HTC Tosses CFO Amid Continued Profits, Sales Plunge
April 17, 2012 4:46 PM
comment(s) - last by
Will HTC join the likes of RIM and Palm? The handset maker has gone from sales superstar to treading water
Even as the
death knells sound
for Research in Motion, Ltd. (
), the smartphone industry may be close to claiming another casualty. Faced with slumping sales and unable to compete with slick handsets from Apple, Inc. (
) and Samsung Electronics Comp., Ltd. (
), Taiwan's HTC Corp. (
) is seeing shareholders jump ship as revenue and stock prices decline.
In 2010 and 2011 HTC was on fire. Its handsets like EVO 4G propelled it from obscurity as a company who manufactured
companies' devices (an original device manufacturer) to an original equipment manufacturer (OEM) role. Sales quadrupled in 18 months, and stock prices tripled. At one point HTC was estimated to be
the top smartphone seller in the U.S.
Then in late 2011,
sales began to decline
profits plunged precipitously
. Today they stand 70 percent off their peak and HTC looks lost. The company just released its chief financial officer Winston Yung and enlisted the help of ex-Goldman Sachs Group, Inc. (
) financial veteran Chia-Lin Chang to salvage the leaking ship.
Quiet brilliance is no longer achieving success for HTC [Image Source: Reuters / Pichi Chuang]
While the shakeup may help HTC slightly on the financial front, the elephant in the room remains how the company can manage to attract customers. Increasingly Apple versus Android has started to look like
Samsung versus Apple
, with fifth place HTC fading fast.
The situation may soon further deteriorate as Samsung has reportedly bumped its Galaxy S3 launch to May 3 in London, England. HTC is reportedly scrambling to figure out what -- if any --
handset in its lineup
can keep pace with Samsung's latest flagship entrant, which is virtually guaranteed to pack a gorgeous display, bleeding edge hardware internals, and slick packaging.
One thing's for sure -- with hungry players like Nokia Oyj. (
lusting for a piece
of HTC's rapidly gained market share, things are looking increasingly troublesome for the Taiwanese gadgetmaker. It needs a new game plan -- and fast.
This article is over a month old, voting and posting comments is disabled
RE: Begun the Patent Wars have....
4/18/2012 1:05:45 PM
Really, stuff like this should be illegal.
Great post, and I agree Solandri.
The whole system is just getting out of hand.
"We don't know how to make a $500 computer that's not a piece of junk." -- Apple CEO Steve Jobs
Windows Phone's First Hit: Nokia Lumia 900 LTE Sells Out
April 17, 2012, 12:16 PM
RIM Tries to Sell Customers on Defunct Operating System, Bleeds Money
April 11, 2012, 3:04 PM
Android Earnings Report Pt. I: Samsung Wins Big, HTC Plummets
April 6, 2012, 2:38 PM
HTC Reveals One X, One S, and One V Android 4.0 Smartphones at MWC
February 26, 2012, 5:24 PM
Samsung is Virtually Tied With Apple, Sells 36.5M Smartphones in Q4
January 27, 2012, 10:29 AM
HTC Desire 510 Officially Announced, May be First 64-Bit Android Smartphone
August 27, 2014, 3:50 PM
Report: Apple to Unveil "iWatch" at iPhone 6 Event on September 9
August 27, 2014, 2:00 PM
Reports: Snapchat is Now Worth $10B, Cofounders are Billionaires to Be
August 27, 2014, 9:30 AM
Tim Cook Says iPad Sales Have Merely Hit a Temporary “Speed Bump”
August 27, 2014, 9:16 AM
ZOTAC Announces Diminutive ZBOX PI320 pico
August 27, 2014, 9:00 AM
Verizon Wireless' VoLTE Service Tiptoes Closer to Launch
August 26, 2014, 3:21 PM
Most Popular Articles
Microsoft's Surface 2 Tablet Family Gets a $100 Price Cut
August 25, 2014, 1:16 AM
Report: Microsoft to Announce Windows 9 on September 30
August 21, 2014, 11:20 AM
From HULC to FORTIS: the Evolution of Lockheed Martin's Incredible Exosuit
August 22, 2014, 12:45 PM
SpaceX Falcon 9-R Rocket Suffers Malfunction, Self-Destructs During Test Flight
August 23, 2014, 9:36 AM
Owner of "Decepticon" Maserati Ordered to Appear in Court This Thursday
August 25, 2014, 7:55 AM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information