Factory sold by HTC to fund VR business
HTC’s virtual reality business is growing, mostly due to the success of the Vive VR headset which was developed in partnership with video game company, Valve. HTC seems to be planning to invest further into VR, since it recently sold another one of its manufacturing facilities to fund its VR business.
The 114,000-square-meter (28-acre) factory in Shanghai, China, will be sold for around 630 million yuan ($91 million) to Xingbao Information Technology. A release by the company said the sale will “fill the company’s operational adjustment needs and assets activation”.
HTC confirmed through Taiwanese media the funds will be put into expanding the VR business, and will not be affecting its smartphone business. HTC has been continuously declining from the smartphone industry, so the focus into virtual reality seems like a good move for the company. VR may not be as big as people expected, it’s still growing and HTC seems to want to be at the forefront.
Source: Android Authority