Cher Wang quits Via Technologies ‘to focus on HTC’
Cher Wang ( ) yesterday resigned as chairwoman of Via Technologies, Inc. ( ) to focus on HTC Corp. ( ), according to an HTC representative.
Wang is succeeded by the chipmaker’s general manager Chen Wen-chi ( ), who was approved yesterday by the board of directors.
She is stepping down as Via Technologies chairwoman to focus 100 percent on turning around the sales and operations of her smartphone maker HTC, said Chang Chilin ( ), head of global sales for HTC.
Chang also said HTC’s revenue from July to September is expected to hit between NT$19 billion and NT$22 billion to reach a 10-year low.
Via Technologies said that Wang will no longer serve as chairwoman but will stay on the company’s board of directors.
She founded the motherboard chipsets maker in 1987 in California and relocated its headquarters to Taiwan in 1992.
Via Technologies Losses
Extend to Q2
Also yesterday, Via Technolo- gies’ board of directors reviewed financial results for the second quarter of 2015.
The company, which has lost net value for nine straight years, is set to be suspended from trading shares on the main bourse if it posts another annual loss in 2015.
According to the board of directors, Via Technologies continued to operate at a loss in the second quarter, realizing a net loss of NT$77.54 million or NT$0.16 per share. It realized an overall aftertax loss of NT$0.92 per share in the first half of this year.
Company investors had railed against the board at a shareholders meeting in June, and Chen had pledged that Via Technologies will not delist and that the board will redouble efforts to recover sales. “For our performance, I am sorry and very guilty,” Chen said.
“External conditions truly did improve last year and we had operated at a moderated contraction. There was an opportunity to turn the loss around but we didn’t grasp it.”
Earlier this month, the company announced that it reached an agreement to sell its handset chip subsidiary Via Telecom ( ) to an undisclosed buyer. The transaction would represent a gain of US$100 million, down from the US$ 250 million that speculators said would result from a deal with Intel Corp.
Via Telecom, the band processor supplier for China’s Lenovo Group Ltd ( ) and South Korea’s Samsung Electronics Co., should exchange hands this year by the third quarter, according to Via Technologies.