The 2 companies have reached an agreement for $ 1.1 billion, creating a cooperation alliance to develop new ‘smartphones.’
HTC has signed a cooperation contract for the advancement of phones and a contract to make use of its patents for a decade by Google and can transfer compared to that organization about 2000 workers, said the director of Financial of the business Peter Shen Yaobang.
HTC President Cher Wang said today that transaction “guarantees continuity in innovation inside our smartphone and digital reality section” because of the injection of money.
The Taiwanese company won’t completely abandon the production and sale of handsets using its brand, while assisting in developing the hardware of their phones, and prepares the release of a current phone model, Wang added.
HTC has recently advanced yesterday that it had been likely to suspend today the shared quote because of “a significant announcement,” which triggered anticipations of the sale to Google of the portion of telephones.
The Taiwanese company currently produce the Pixel and Pixel X phones for Google and is likely to also do the same because of its new model Pixel 2.
HTC has been struggling massive losses for quite some time, even though its models have obtained numerous worldwide quality awards because of insufficient sales.
The existing value of HTC shares is 5 percent of its all-time high reached in 2011 when HTC became the priciest stock on the Taiwan STOCK MARKET.
The business has diversified its production to virtual reality products, last betas, and production for other electronics companies, but hasn’t yet been able to balance its accounts.