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January 19, 2016updated 31 Aug 2016 9:57am

HTC forced to deny rumours of new VR business

News: Denied the rumour in statement to investors.

By CBR Staff Writer

HTC has denied rumours that it is planning to spin off HTC’s VR operations into a seperate, independent business unit.

The statement of denial follows reports from Taiwan, in particular the United Evening News, which reported that HTC chairwoman and chief executive Cher Wang was considering the VR spin-off.

Sources said HTC and Wang would initially own the new VR firm, and were searching for employees who are interested to work for the new business.

However, in the statement to investors, HTC denied the rumours and reassured investors that ‘HTC will continue to develop our VR business to further maximize value for shareholders.’

HTC has invested a huge amount in its Vive VR headset, created in partnership with games firm Valve, which was initially unveiled at Mobile World Congress last year.

Pre-orders for the consumer version are due to open by the end of next month.

HTC has reported a net loss of NT4.48bn ($137.63m) in its most recent third quarter results, marking the second straight quarterly loss.

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HTC’s sales figures have been declining for the past few years as it struggles to compete with rivals including Samsung, Apple and Chinese brands like Huawei and Xiaomi.

The company is also trying to venture into new technologies that go beyond smartphones similar to Samsung and Apple.

HTC could also be the latest tech giant to join the wearables race by launching its first Android Wear smartwatch next month.

The company has not yet revealed many details about the watch, whose price is estimated to be at around $350.

 

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