HTC Corp (TPE:2498) is losing its top executives as the company faces strong competition in the mobile market. The company failed to avert its declining revenue through its latest smartphone devices such the HTC First and HTC One.
According to CNET, Lennard Hoornik, CEO of HTC Corp (TPE:2498) in Asia resigned from the company. He was on leave for two months prior to his decision to vacate his position in the company.
A Look Back At Warren Buffett’s Best and Worst Oil & Gas Investments
Warren Buffett is perhaps best known for his large investments in some of the world's most recognizable brands, companies like Coca-Cola, American Express and Apple. Q1 2020 hedge fund letters, conferences and more Companies that fit into this bracket seem to fall squarely within his circle of competence. They sell a product that's easy to Read More
HTC is losing its employees and executives:
Last week, Kouji Kodera, chief product officer of HTC Corp (TPE:2498) also left the company. He was responsible for executing product strategy for the entire company. In addition, the mobile phone manufacturer also lost other executives including Jason Gordon, vice president of global communications; Rebecca Rowland, global retail marketing manager; John Starkweather, digital marketing director; and Eric Lin, product strategy manager.
The Verge cited that the departure of the executives of HTC Corp (TPE:2498) in its office in Seattle is not a coordinated poaching effort. Starkweather left the company to join AT&T Inc. (NYSE:T) while Microsoft Corporation (NASDAQ:MSFT) hired Lin and Rowland.
A source familiar with the situation cited that HTC Corp (TPE:2498) is losing its employees and executives because the company is going downhill. The source told the Verge, “Anyone who’s heard of them in Seattle doesn’t want to go work for them right now. They’re like T-Mobile two years ago. They’re in utter free fall.”
Lin sent a Twitter message to his fellow employees at HTC Corp (TPE:2498) encouraging them to leave the company. He wrote, “To all my friends still @ HTC- just quit. Leave now. Its tough to do, but you’ll be so much happier. I swear.”
In a second tweet, Lind explained, “I didn’t leave for a competitor or a carrier or something. Just I don’t miss the place, only the people.”
Industry observers said that the disappointing sales performance of the HTC First also known as the Facebook phone as one of the several reasons behind the continuous departure of HTC executives. The company failed to attract consumers despite dropping its price to $0.99 with a two-year contract with AT&T Inc. (NYSE:T). The original price of the HTC First integrated with the Facebook Home was $99.
Although Facebook Inc (NASDAQ:FB) originally indicated its plan to offer the Facebook Home app exclusively to HTC, the social network giant changed strategy and made it available through Google Play for selected Android smartphones.
Another reason is the strong competition confronting the HTC One, the flagship smartphone of the company. HTC Corp (TPE:2498) chairman Peter Chou said he will step down from his position if the One fails to attract consumers.