HTC Will Not Engage On Virtual Reality Business Into split Company

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HTC confirms that it will not engage on virtual reality business into a separate company. The company pushed out its statement to disprove reports that it will launch separate company which will handle the virtual reality initiatives.

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Recent reports in Taiwan, stating Cher Wang is now planning to spin off HTC’s virtual reality operations a split entity that will wholly owned by Wang. Those reports were not true. HTC will continue to develop VR business to maximize value for shareholders.

According to report, chairwoman was enthusiastic in its intention to spin off the operations of VR by HTC into an independent firm. And some speculation that the company will be owned by a Taiwan based smartphone maker.

Discussions about the plan begun even Peter Chou stepped down as company’s chief executive officer. And there were rumors that HTC employees were will jump in VR firm.

In an interview, Wang implied that HTC was looking at VR as potential savior for the company.

“Yes, smartphones are important, but to create a natural extension to other connected devices like wearables and virtual reality is more important,” said Wang.

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