The smartphone market is the rapidly changing sphere where hardware and software updates define everything. HTC was too slow to keep up with the prevailing tendency and lost the leading position on the global market. The new CEO of HTC, Yves Maitres, talked about it on a meeting with Tech Crunch.

Currently, Taiwanese device maker is going through tough times. The company experiences losses for the fifth quarter in a row. Last July, management even had to cut almost a quarter of its staff. But previously, the company has shown excellent performance in the smartphone market. For example, in 2011, HTC occupied about 11% of smartphone supply.

The newly-appointed HTC CEO, Yves Maitres, already set the diagnosis for the company's situation. He stated that the main problem of HTC stagnant sales is the slow speed of hardware modernization, as the company was focused on other technologies.

"And people like Apple, like Samsung and, most recently, Huawei, have done an incredible job investing in their hardware. We didn't, because we have been investing in innovation on virtual reality. I think we've been right at the wrong time and now we have to catch up," Maitres stressed.

The new head believes that the company will be able to overcome complications and improve financial performance. Maitres said he sees opportunities for the company's growth in augmented reality technology (through Vive's division), as well as in the fifth-generation mobile phone industry.