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HTC to sell Shanghai smartphone factory for $90 million as it expands VR operations

Date Type Companies involved Size
March 20th, 2017 other HTC $90m
HTC to sell Shanghai smartphone factory for $90 million as it expands VR operations

Mobile manufacturer HTC is set to sell its smartphone factory in Shanghai for $91.5 million as it aims to focus further on virtual reality.

As reported by China Daily, the plant will be sold to Shanghai Xingbao Information Technology Co Ltd. HTC claimed the move had “no implications” for its mobile business or staff levels.

It added that production capacity for its smartphone devices would also remain as planned, though will now rely on its factories in Taiwan.

Revenue ReViveal

HTC plans to invest money from the sale of the plant into its VR business, which includes the Vive headset developed in collaboration with Valve.

The move comes after HTC revenues fell by over 35% in 2016 to $2.55 billion.

Though it plans to stay in the smartphone business, the sale shows that the VR space is a key priority for the firm.


Senior Editor

Craig Chapple is Senior Editor of PocketGamer.biz. He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.

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