HTC has been bleeding executives recently and, now, two of them have formed a new company with the goal of creating new smartphones in Europe. According to CNET, HTC's former head of sales of U.K. and Ireland Michael Coombes and former U.K. marketing lead James Atkins created a new company called "Kazam." Coombes will sit as the CEO of Kazam and Atkins will serve as the new company's chief marketing officer, CNET explained.

The two men hope to focus on quality design and top-notch support for smartphones after Kazam sells devices to customers, and believe that the "experience [shouldn't'] just stop once you've bought the phone." Kazam will need to find a way to compete not only with HTC, but with Samsung, LG, Nokia and a half dozen other companies that create handsets for the European market. The team didn't confirm what operating system will be used on its Kazam's handsets, though Android is the obvious go-to choice.

Kazam hasn't announced any carrier markets, and it may not need to. It could sell the devices unlocked, which is common in Europe where customers are used to paying full price for a handset instead of locking themselves in to a two-year contract, as is common in the United States. Kazam did not say when its first phone will hit the market, so it sounds like the company is still in its infancy.