Jan 19 AT 1:11 AM Sean Riley 0 Comments

HTC denies rumors of VR business becoming an independent company


Regardless of how HTC shareholders may have felt about the rumor that the company would be spinning off the VR business, HTC has officially quashed the rumor before it had too much time to build up.

HTC’s official comment on the matter:

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.Official Press ReleaseHTC

Naturally this doesn’t preclude HTC making this move sometime in the future, but for now HTC is going to keep its split personality as a purveyor of VR and mobile hardware under one roof.

The Vive has been proof positive that HTC is capable of creating innovative hardware in new sectors, but with VR profitability likely still years away the Vive alone is not going to turn around the fortunes of HTC. Wearables and Internet of things remain reasonably unsettled markets that HTC has identified as areas of interest, however the clock is ticking.

Update: Our resident HTC aficionado, Nick Gray, is justifiably skeptical of this denial from HTC. The language expressly denies that the spin off will be wholly owned by Cher Wang, rather than a blanket denial of any plans to spin off the VR division. Read the rest of Nick’s thoughts on the statement over at HTC Source.

Via: Techcrunch

Source: HTC Investors

Sean has been with Android and Me for over 6 years and covering mobile for the last 7. He occasionally muses about gadgets and tech outside of the Android universe at Techgasms.

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