HTC CEO rallies his troops, admits bureaucratic mistakes in leaked company memo

HTC’s CEO Peter Chou knows something as amiss at the Taiwanese giant, as the company’s profits have halved in the last two quarters despite a strong product line. The One series, represented by the One X, One S and One V, have not sold nearly as well as envisioned; despite intuitive designs and forward-thinking features, the phones haven’t caught on with consumers.

In a memo leaked to the public, Chou said “we have people in meetings and talking all the time but without decision, strategic direction or sense of urgency. Bureaucracy crept in without clear ownership. We agreed to do something but we either didn’t do it or executed it loosely.”

Disappointed that sales of the company’s smartphones are down while the industry is growing at a fast clip, he continued, “the fast growth from the last two years has slowed us down.”

The email was titled ‘We are coming back’ and let’s hope it’s true.

Source: Bloomberg