HTC’s co-founder, Peter Chou, is to step down as CEO and take on the role of head of product innovation as the company battles to revive its fortunes. The company’s chairwoman, Cher Wang, will take on the additional role of CEO. HTC said that the move will allow Chou to focus on product development, “a role in which he has demonstrated world-class design and cutting-edge technology expertise”. HTC has seen its smartphone market share dwindle to less than 2% from double digits within three years, as the company faces increasing competition from Chinese vendors.
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