HTC

HTC denies rumor that it will spin-off its VR business into a new company

HTC denies rumor that it will spin-off its VR business into a new company
After HTC co-founder and CEO Cher Wang said that VR is HTC's new focus, there is speculation that the manufacturer is going to spin-off its VR business into a new independent company. The HTC Vive VR headset will be available for pre-orders starting February 29th and is expected to ship in April.

According to the report, HTC and Cher Wang will together own 100% of the VR company. It is not known how much of the new business will be retained by HTC, and how much its CEO will keep. The executive had said at CES earlier this month, that a separate company would be formed for HTC's VR business and that it could operate completely apart from the rest of HTC.

HTC has denied that the spin-off is in the works. In a press release, HTC said that it "will continue to develop our VR business to further maximize value for shareholders."

HTC's publicly traded shares have mirrored the company's struggles in the smartphone market. Peaking several years ago at the equivalent of  $37.18, the stock is currently trading at $2.28 USD. The HTC One M9 was not competitive in the flagship end of the smartphone market in 2015, and the company's sales declined 35% last year.

There is hope for HTC. The company is rumored to be producing two Nexus handsets this year. HTC was the manufacturer of the first product in the series, the Nexus One, back in 2010.

source: Digitimes

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7 Comments

1. Martineverest

Posts: 521; Member since: Oct 27, 2015

Oculus we know

5. vincelongman

Posts: 5677; Member since: Feb 10, 2013

*Valve I dont trust Oculus/Facebook

6. hboy857

Posts: 367; Member since: Jun 03, 2013

Playstation VR FTW.

2. Martineverest

Posts: 521; Member since: Oct 27, 2015

In Oculus we trust

3. Martineverest

Posts: 521; Member since: Oct 27, 2015

In Oculus we trust

4. Reza.N

Posts: 77; Member since: Sep 06, 2015

Oculus?lol..you can't compare these two things..Vive is much better

7. Dude2014

Posts: 448; Member since: Feb 12, 2014

Why anyone don't mention anything about valve?? If HTC is the hands that can creat awesome VR stuff, valve is the brain behind it. Valve > All when it comes to gaming.

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