Acer posts $446 million quarterly loss, CEO to step down

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Smartphone companies are having a good, if not great, quarter. PC manufacturers, not so much. Acer’s financial results, announced last week, have seen the company posting a loss of $446 million for the third quarter of 2013 – figures which have prompted company CEO J.T. Wang to resign from his post.

Wang will not be leaving Acer immediately however. He is expected to carry on as CEO until the start of the 2014 financial year, at which time he will be stepping aside to let Acer president Jim Wong take over.

This is the second loss in a row for Acer, coming on the back of reduced PC sales. But, where Q2’s loss was only $11.4 million over the three month period, the Q3 results represent a 35% drop in sales for the company year-on-year.

Acer does have some plans which should save them money in the short term, one of which is a reduction in staff to the tune of about 7% of their workforce. We’ll have to see how the company’s Q4 performance looks to get a better idea of what other action Acer needs to take.

Source: Ars Technica

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