HTC’s Cher expresses upbeat outlook for company at APEC

By Ted Chen, The China Post

TAIPEI, Taiwan — HTC Chairperson Cher Wang (王雪紅) yesterday asserted an optimistic outlook on the prospects of her company, pledging that its innovation-based approach will surmount the challenges of slumping performance posted recently by the beleaguered handset maker, while attending the Asia-Pacific Economic Cooperation (APEC) summit in Bali, Indonesia.

Wang spoke yesterday as a member of its Business Advisory Council. Other members include high-ranking executives from Microsoft and General Electric. According to Wang, the company’s performance is expected to rebound in the final quarter of this year or early next year, as it is poised to impress the markets with innovative products. However, Wang admitted that there are issues hampering communication between company management and consumers. Wang stated that these issues would be resolved in the hopes of regaining consumers’ preference of HTC products. The company had earlier stated that it is facing unprecedented dire challenges this quarter. At the end of yesterday’s trading, HTC shares fell NT$9, or 6.67 percent, while tumbling to NT$126.

“The stock price is really the past. Innovation is the future. I actually never look into the price — it doesn’t influence me,” she said. “The (ability) of the company to be able to stick with (its) vision is the most important”, said Wang on Oct. 4 in an interview with CNBC’s Managing Asia while responding to concerns of the company’s ailing performance in the market. Dismal Prospects: Institutional Investors As of the end of the third quarter, the company posted revenues of NT$47.05 billion, a lagging behind previous projected goals of NT$50 billion, while recording an operating margin of -7.4 percent, and earnings-per-share of -NT$3.58.