HTC denies rumours that it will spin off VR business into new company
As soon as HTC co-founder and CEO Cher Wang revealed that VR will be the company's new focus, speculation started mounting around the possibility of the business being spun off into a separate company.
The alleged separate company would be solely owned by HTC and Cher Wang, though the exact share percentage for each is unknown. But today, the company has denied this in a press release, stating that it "will continue to develop our VR business to further maximize value for shareholders." From a business point of view, this does appear to make sense, considering its first VR product isn't even on the market yet, and it is yet to be seen if the business will be considered a success.
HTC's publicly traded shares have mirrored the company's struggles in the smartphone market. Several years ago, its shared peaked at the equivalent of $37.18, but now the stock is trading at a very poor $2.28 USD. The past year hasn't helped the company's share price either, with the failure of the One M9 largely affecting the company.
There's no doubt though, that HTC could turn itself around this year. The company's new focus on VR could easily make it one of the front-runners in the market, and, with rumours circulating about the company producing a pair of Nexus devices this year, 2016 may well be the year in which we see HTC finally turn itself around.
If you are interested in acquiring the HTC Vive VR headset, it will be available for pre-order starting February 29th and is expected to ship in April. What do you think of HTC's future in VR? Let us know in the comments below!
Source: | PhoneArena |
