Jimmy Lai Buys Stake in HTC

Posted by at 10:33 am on November 1, 2013

Jimmy Lai, a wealthy businessman in Hong Kong, has acquired a 2% stake in HTC. Though Lai’s new ownership position in HTC is small, the Wall Street Journal reports that Lai is outspoken.

“It’s no secret that Mr. Lai is active in the Taiwan market and no secret he has opinions,” said Mark Simon, Lai’s spokesperson. Lai is a media mogul who founded Next Media Ltd., which publishes newspapers in Hong Kong and Taiwan. The Journal suggests that Lai’s interest in HTC could lead other investors in the ailing company to seek changes in the how it is managed.

HTC CEO Peter Chou has come under fire in recent months due to the company’s poor performance. It recently reported its first-ever quarterly loss as a public company. Lai believes HTC still has potential. “HTC is undervalued and there is an opportunity for growth,” said Simon.

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