Electronic Products (EPS) is a semiconductor company, specializing in digital and mobile devices.
In 2016, the company said it had sold more than 100 million units of its “Connected Home” smart home products, with plans to sell more.
EPS, which also develops smart thermostats and security cameras, was also one of the earliest entrants into the consumer electronics market, with products including Philips Hue lighting systems, Nest smart thermos, and Nest thermostat-enabled smoke detectors.
As recently as 2013, EPS said it planned to release more than 10 million smart home devices.
However, the stock price has dropped by more than 60% since the beginning of 2017.
Eps, like many other major companies in the consumer technology space, has been struggling to generate the revenues it needed to meet its expenses, while also diversifying away from the main product line.
In addition to losing more than 50% of its value over the past decade, EPS has also seen significant restructuring and merger activity in recent years.
In 2018, Eps filed for bankruptcy protection, which left the company in a deep hole.
EPs shares have dropped almost 50% over the last five years.
While the stock has recovered from its decline, it is still a much lower-priced product compared to competitors like Samsung and Apple.
The stock is up by more about $20 per share this year compared to a year ago.
It is currently trading at $21.50 per share.
In a report published by Citi Research, EPCs chief financial officer, Chris McDonough, said EPC is currently “in the market for a new CEO, so we are exploring that.”
He added that EPC “continues to make significant progress on the transition to a leaner and more agile company” with a focus on digital and other products.
The company has a number of key players, including its U.K. unit, which includes the electronics division.
In December, EPD said it will acquire B&R Electronics and its U2 division.
Both companies have been involved in a number initiatives to increase its product lineup.
EPD also said it was working on a strategic alliance with Philips Hue.
In the meantime, the new CEO will have to figure out how to improve EPD’s overall bottom line while also maintaining the company’s focus on its core businesses.
The EPD report does not say how long EPD will remain in bankruptcy protection.
However it does suggest that “a significant amount of debt is likely to remain on the books.”