HTC shares jump on reports of management musical chairs
CNATAIPEI--Shares of Taiwan-based smartphone vendor HTC Corp. (宏達電) jumped nearly 7 percent on Tuesday after the Financial Times reported that Peter Chou, the company's chief executive officer, has transferred some of his duties to Chairwoman Cher Wang to focus on innovation.
October 23, 2013, 12:08 am TWN
“To my knowledge, Chou specializes in research and development, and the change has put him in the right position,” KGI Securities analyst Eason Lee said. “The change in operational duties is a positive step for HTC.”
In yesterday's trading, shares of HTC had added 6.9 percent to NT$139.5, with 25.89 million shares changing hands.
“After HTC shares had fallen sharply on concerns over its falling market share and worsening bottom line, the change has prompted many bargain hunters to return to the stock,” Lee said.
Lee said he expected the launch of its first phablet model — the HTC One Max — to boost the company's sales and improve its bottom line.