HTC Corporation (HTCXF) might be struggling with smartphone sales as their market share shrinks, but the company has moved forward by naming Cher Wang as new CEO.
HTC Corporation (HTCXF) has seen shrinking sales, slowing excitement and stagnation in innovation within their smartphone lineup throughout the course of the last several years. The company is hoping to turn things around with a new CEO since an evolution in their smartphone lineup has been out of the question. Cher Wang, who co-founded the company, replaced Peter Chou, who had been leading the company since 2005 when he assumed the role as CEO.
This is a move though didn’t come as a surprise to those who were close to the company. In fact, this has been happening slowly over the course of the last two years. It started in 2013 when Wang took operational responsibility from Chou and has led to this day – when Wang was officially named the CEO of HTC. Interestingly this is a move that will mark a time for HTC to reimagine its creative vision completely – should their new CEO desire to see that change.
It’s an interesting move because that is largely believed to be the reason why a new CEO was named in the first place. They’re looking for a new vision, and right now the company believes that this new vision will come from Cher Wang, who has deep ties to HTC, co-founding the company so many years ago. There has been a lot of chatter though regarding the status of leaks and how that pertains to the marketing of their products.
HTC believes that they would be better suited had some of those marketing secrets remained secret and didn’t fall apart – landing in the consumers hand before a product – like the HTC One M9 even launched. Wang was open about her ability to lead the company. She said in an interview, “I know the company, I know the people, and I have the vision.” She also pointed out that she does believe she is the best candidate for the job – confessing in the same interview “I suggested it.”
There’s something organic about Wang taking over control of the company she co-founded. At the end of the day, the move will largely determine how successful the company is in the coming years – and it will hinge largely on how well the company responds to the change. Another thing that will have a significant impact on the success of the company is how well products actually sell under her watch. If things don’t improve commercially, then things will likely continue their broader decline.