Who is Cher Wang, the tycoon out to revive HTC’s glory years with world’s first blockchain phone?
Founder of firm, once the world’s third-largest maker of mobile phones, is investing in emerging technologies to halt cycle of falling sales and cutbacks
Taiwanese smartphone maker HTC’s announcement yesterday of the Exodus, the world’s first blockchain phone, is being seen as another attempt to revive its fortunes by investing in emerging technologies.
The move comes after the company’s move into the virtual reality (VR) market with its VIVE Pro headset earlier this year.
About seven years ago the company was the world’s third largest mobile phone maker.
However, HTC has been suffering from falling sales over the past few years.
Last year, it reported operating losses of NT$17.4 billion (US$570 million), with another NT$8.34 billion losses incurred in the first six months of this year.
It sold part of its smartphone division to Google in September last year for US$1.1 billion, and laid off 1,500 of its 6,450 workforce in July as part of it “organisation optimisation” programme.
This is also a testing time for Cher Wang Hsiueh-hong – the company’s co-founder, chairperson, president and CEO – who is regarded as one of the most successful female entrepreneurs in Taiwan, especially in the technology sector.