HTC Denies Stories It Will Spin Its VR Enterprise Into A Standalone Firm

HTC Denies Reports It Will Spin Its VR Business Into A Standalone Company

Digital actuality is turning into a serious focus for struggling smartphone maker HTC, however not so main that it’ll spin out its VR enterprise right into a standalone firm.

The agency immediately issued a press release denying a report from native media in its residence nation of Taiwan which claimed Chairwoman Cher Wang is within the strategy of creating a brand new VR entity that’s wholly owned by her and HTC. The report steered that the thought of a spin-out was first raised final yr, across the time that then-CEO Peter Chou stepped down to steer product improvement, however was deserted for some cause and is now being revived.

Not so, HTC stated:

Current media studies in Taiwan, akin to by United Night Information, stating that Cher Wang is planning to spin off HTC’s VR operations into an unbiased entity that can be wholly owned by Wang is wrong. HTC will proceed to develop our VR enterprise to additional maximize worth for shareholders.

Talking of shareholders. HTC’s inventory worth jumped on the preliminary studies, rising by over 5 % to NT$seventy six.60. For those who’ve been following HTC — which was buying and selling under its money available final yr, successfully making the corporate nugatory — then you definitely’ll know that shifting its needle in a constructive course is no straightforward factor.

HTC is pinned its comeback on a mixture of value-chopping (15 % layoffs) and extra marketable units, however the firm stated that the Web of issues, wearables and VR are additionally areas the place it believes it will probably rebuild its reputation with shoppers.

The corporate cast necessary hyperlinks final yr as Chou took a task as government director position with Hong Kong-based mostly Digital Area, along with his work with HTC and HTC invested $10 million in VR platform firm WEVR.

The preliminary fruit of the corporate’s VR labor is the HTC Vive which, following a lot delay, will lastly be obtainable in April. The gadget impressed us final yr, however how will it fare among the many common public? We’ll see quickly.