Acer is expected to post a third-straight annual loss, but has plans to build on its hardware background to turn the company around, Chief Executive Officer Jason Chen said. The company's largest mistake according to their CEO was to invest too early in Intel Ultrabookthin as well as touch-screen technology at a time when the market for such devices didn’t yet exist.

“We need to dig ourselves out of a hole,” Chen told reporters at the company’s headquarters in Taipei yesterday. Jason Chen took over as CEO and president of Acer on Jan. 1st, 2014 and was very vocal about the faults of the company in his first meeting with press. Chen said it’s too early for him to outline the company’s new strategy and he also declined to say if he’ll spend more on research and development or on marketing. Some of the publications that were present were upset by the lack of direction, but others weren't expecting concrete details in Chen's first presentation.

We'll be keeping an eye on Acer in 2014 and see if they are able to turn make an impressive turn around in a single year or if this will take more than a single year to repair.