HTC COO resigns on slumping sales even as May results rebound

06/4/2013 | Bloomberg ·

HTC showed its best results in almost a year last month, but the good news came too late for Chief Operating Officer Matthew Costello, who resigned following a quarter in which net profits fell by 98%. The Taiwanese smartphone maker named Fred Liu, the head of engineering and operations, to take over Costello's role as well. Costello was the fourth top executive to leave HTC within two years. In May, propelled by sales of the new HTC One, the company's revenues reached $970 million -- the most since June 2012, but still down 3% from May 2012.

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