HTC’s Chief Operating Officer Matthew Costello has stepped down, after less than three years at the struggling Taiwanese smartphone manufacturer. This comes in the wake of an earlier mass exodus of key HTC executives, at a time when HTC only recently struggled with component shortages and ever decreasing smartphone sales worldwide.
HTC’s president of engineering and operation, Fred Liu, will take on Costello’s old responsibilities in a new, expanded role that includes operations, quality, sales, and services. Costello will also apparently stay on as an executive adviser. Analysts say this is a good move for HTC, as the company currently has too many executives, but others are worried that this is a sign of even more trouble for a manufacturer that’s had a hard enough time remaining profitable.
Still, in spite of these fears, HTC announced that last month its unaudited revenues total $970 million, which brings the total revenue for the year to over $3 billion. These numbers show that May was HTC’s best month so far in 2013.[Bloomberg | HTC]