In spite of the highly successful worldwide release of the new HTC One Series, and the upcoming HTC EVO 4G LTE, HTC shares have been falling lately following the ousting of the company's chief financial officer, Winston Yung. Chia-Lin Chang, a former partner at Goldman Sachs, has been selected to take his place, leaving many people wondering what exactly is going on behind the scenes at HTC.
Yung had led quite a few initiatives that some people criticized, including the acquisition of a majority stake in Beats Audio, which will be branded on the EVO 4G LTE, along with other existing and future HTC devices.
However, HTC categorically denies that this change in leadership has anything to do with Beats. CEO Peter Chou recented stated that "[m]edia speculation that ties this announcement to HTC's partnership and investment in Beats By Dre is categorically inaccurate … HTC and Beats have made impressive progress in innovation and brand awareness and the integration of the Beats brand and technology in the new HTC One series is a clear indication of our commitment to this partnership."
As HTC attempts to turn itself around with devices like the One X and the EVO 4G LTE, it will certainly be interesting to see how all of this plays out.