HTC CEO Cher Wang has issued an apology to the shareholders, following the company’s poor financial performance over the past year. Wang acknowledged that the HTC One M9 flagship smartphone, released in 2015, did not sell as well as was expected, leading to difficulties for the company.
There was more optimism from Wang, however, as far as virtual reality is concerned. Following the release of the HTC Vive headset, Wang said she is confident that VR will provide healthy returns for the company.
“I understand that an apology would not solve the issues, but I hope the shareholders have faith in HTC, as we have built a solid foundation for success through our efforts in VR business in the past year,” Wang remarked.
Wang was speaking at HTC’s annual general meeting in Taoyuan, Taiwan, telling shareholders that VR would help the company to grow over the next ten years. The CEO also announced that HTC has created a wholly-owned division, which is dedicated to VR.
As HTC looks to grow its VR business, Wang said the company may seek strategic partners to invest in the new subsidiary.
There was some encouraging news as far as smartphone sales were concerned too. Chang Chia-lin – HTC’s head of global sales – announced that the 2016 flagship smartphone, the HTC 10, is selling significantly better than the HTC One M9 did last year.