HTC denies establishing standalone VR company

Over the last few years, mobile telcos have continued to make virtual reality the major focus of their business considering it’s futuristic value.

Struggling smartphone maker, HTC has also adopted the strategy of making virtual reality a focus of its business considering it’s new range of VR gadgets but the company is not thinking of spinning out its VR business into a standalone company contrary to reports making the rounds.

Read also: Apple faces heavy fine over tax default

HTC has issued a statement denying a claim by a local media in its home country of Taiwan which claimed Chairwoman Cher Wang is in the process of creating a new VR entity that is wholly owned by her and HTC.

Not so, HTC said in its statement:

“Recent media reports in Taiwan, such as by United Evening News, stating that Cher Wang is planning to spin off HTC’s VR operations into an independent entity that will be wholly owned by Wang is incorrect. HTC will continue to develop our VR business to further maximize value for shareholders.

The initial fruit of the company’s VR innovations is the HTC Vive which, following much delay, will finally be available in April 2016.

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