By: Esme Jiang and Frances Huang
Taipei, Jan. 18 (CNA) Cher Wang (王雪紅), chairwoman of Taiwan-based smartphone vendor HTC Corp. (宏達電) will set up a new company to focus on the world’s emerging virtual reality (VR) market, the Commercial Times reported Monday.
In the wake of the plan to open a VR entity, shares of HTC rose sharply on the Taiwan Stock Exchange in the morning session Monday as investors have embraced high hopes that the VR business will help HTC offset the impact resulting from escalating competition in the global smartphone market, dealers said.
As of 12:20 a.m., shares of HTC had gained 5.30 percent to NT$76.60 (US$2.28) with 9.57million shares changing hands, outperforming the local main board, where the weighted index had gained 0.17 percent to 7,775.02 points. [FULL STORY]