Wang takes over HTC hot seat

htc-isntCher Wang, the chairwoman of troubled mobile phone manufacturer HTC and a co-founder of the business has displaced Peter Chou to become the new CEO, right away.

Chou won’t leave the company – he is to work on developing new products.

HTC has suffered in the last three years because although it’s had some good products, it lacks the financial muscle of an Apple or a Samsung to perform marketing miracles and so sell more phones.

Chou had already ceded some of his CEO role to Wang, while the company has seen some restructuring.

According to Cnet, Chou admitted that he took on too much during his reign as CEO and told the wire he wanted to concentrate on new things and the company’s product portfolio.

Wang said Chou will become head of the HTC Future Development Lab, and tasked with finding new growth opportunities.

Wang co-founded HTC in 1997 and the company was an early adopter of the Android operating system. It was also early to market with a Windows phone and at one time was ahead of Samsung and Apple in market share.