Three design executives for HTC Corporation were arrested on suspicion of leaking trade secrets to Chinese companies, sending the Taiwanese smartphone maker’s shares tumbling on Monday, Reuters reports.
Vice president of HTC’s product design Thomas Chien, research and development director Wu Chien-Hung and senior manager of design and innovation Justin Huang were arrested on Friday. Only Huang has been released on bail, according to prosecutors office spokesman Mou Hsin Huang.
The arrests followed a complaint filed by HTC last month, accusing the three men of discussing plans with unidentified Chinese firms to acquire the technology used in HTC’s upcoming Sense 6.0 smartphones, set to hit the market later this year.