New Delhi, Dec 14 (IANS): Rubbishing reports of shifting its focus on premium gaming phones and power users, Taiwanese tech major ASUS on Friday said it would continue to develop its ZenFone series of smartphones.

"With regard to the doubts raised by some on the continuation of the ZenFone brand, we confirm that we will continue to develop the ZenFone series, while also aiming to expand the gaming smartphone market. We will focus on perfecting solutions for gamers and power users," the company said in a statement.

The ZenFone series by ASUS is a line-up that includes low to mid-range and upper mid-range devices that feature both Qualcomm Snapdragon and MediaTek processors.

"ASUS announced late on Thursday that its long-time CEO Jerry Shen is quitting ahead of 'a comprehensive corporate transformation' -- part of which involves a new co-CEO structure, as well as a major shift in mobile strategy to focus on gamers and power users," Engadget reported quoting the BusinessNext website.

Shen was incharge of the launch of ASUS' PadFone series, Transformer series, ZenBook series and ZenFone series.

Shen told the Engadget that he will be off to run a new IoT start-up iFast as chairman and CEO, with its business targeting B2B applications.

However, he would still maintain a connection with the tech major, thanks to its 30 per cent stake in his new venture.