HTC dismisses reports about spinning off VR biz into a standalone company


HTC has dismissed reports which claimed that it is planning to spin off its VR business into a standalone company.  Local media, Focus Taiwan had claimed that the Taiwanese company is looking forward to spin off its Vive division into a separate company.

HTC-Vive-product

HTC revealed in a statement to investors that the report stating Chairwoman Cher Wang is in the process of creating a new VR entity that is wholly owned by her and HTC is incorrect. The company unveiled the Vive Pre, a second generation VR headset at CES 2016. Pre-orders for the VR headset will kick start from February 29 followed by shipping in April. HTC has partnered with video game developer Valve for the VR headset which uses Valve’s Steam VR technology.

Recent media reports in Taiwan, such as by United Evening News, stating that Cher Wang is planning to spin off HTC’s VR operations into an independent entity that will be wholly owned by Wang is incorrect. HTC will continue to develop our VR business to further maximize value for shareholders.

said HTC in a statement.
The company has been struggling to clock profits from its smartphone business for long time.

Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+