HTC Sees More Executive Shuffling, Announces Bullish May Sales

From DailyTech: HTC Corp. (TPE:2498) had good news and bad news on Monday.

The good news for the embattled Taiwanese OEM is that it appears to be pulling back from the edge of fiscal ruin. Its May revenue hit NT$29.0B ($971.5M USD unaudited) versus NT$91.4B ($3.06B USD) for the first four months of the year. The sharp jump in revenue comes as sales of the HTC One heat up. Overcoming production difficulties, glowing reviews helped drive 5 million sales of the 1080p Android handset on its first month on the market.

The revenue numbers are almost back to where HTC was in 2012 (NT$30.0B or $1.00B USD), early in the company's slump. The May sales mark was nearly triple the abysmal February 2013 sales low of NT$11.4B ($381.3M USD).

The potentially bad news is that the company has lost another executive, the latest in a string of high profile departures. This time the casualty is Chief Operating Officer Matthew Costello, who spent less than three years at the firm. Mr. Costello is being shuffled to HTC's Europe office where he will serve as an executive advisor.

The phonemaker listed the reason for the shuffle as "personal family reasons". Over the past two years HTC has also lost its finance, design, and marketing chiefs.

HTC's vice president of engineering and operations, Fred Liu, will be taking on Mr. Costello's responsibilities, expanding his role. Mr. Liu is a veteran, having been with HTC since 1998 and serving as a VP since 2006.

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