Smartphone maker HTC has named cofounder Cher Wang as CEO. The new strategy: wearables and other connected devices.
Once the largest smartphone vendor in the U.S. by shipments back in 2011, HTC is expected to fall below 2% of global smartphone market share this year. To turn things around, the Taiwan-based electronics company is demoting current CEO Peter Chou and replacing him with cofounder Cher Wang. As the new CEO, Wang will help chart a course out of the stormy smartphone waters by building up HTC's connected device business, including wearables and virtual reality products.
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