Cher Wang quits Via Tech­nolo­gies ‘to fo­cus on HTC’

The China Post - - TAIWAN BUSINESS - BY ENRU LIN

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.

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