updated 11:23 am EST, Fri January 17, 2014
Executives to take 30 percent pay cut
Acer has posted a worse-than-expected loss of $254 million in the fourth quarter as the company continues to struggle in the consumer PC market. In a press release, the company blames resource-allocation "missteps" and poor sales of ultrabooks and touchscreen notebooks as contributing factors to the lackluster quarter.
"Although the products were leading in design they did not accurately fulfill market needs," the company adds.
Despite the ongoing troubles, CFO Eva Ho forecasts narrower losses in the next quarter, according to a Reuters report. The company late last year announced layoffs and an executive shakeup, placing founder Stan Shih back in temporary control following the resignation of CEO and chairman JT Wang. Taiwan Semiconductor Manufacturing Company senior vice-president Jason Chen was later chosen to serve as the new president and CEO.
The company has also attempted to diversify its product offerings, launching several Chromebooks and and Android-powered all-in-one, however tablets and non-Windows platforms have yet to fully compensate for declining PC shipments.