Taiwan News
Date: 2016-05-05
By: Esme Jiang and Frances Huang, Central News Agency

Taiwan-based smartphone brand HTC Corp. said Thursday that it has set up a company in preparation for development of new technology.

HTC made the comments after local media reported earlier in the day that the new company was set up at the end of last year for developing the virtual reality business. The report added that the smartphone vendor is planning to spin off the new company in the future.

HTC did not directly respond to these aspects of the report.

According to the report, after HTC unveiled its first VR headset — the HTC Vive — in early 2015, the company started to consider the possibility of setting up a new company for VR technology development and product marketing. After the establishment of the new VR company, supervised by HTC Chairwoman Cher Wang, at the end of last year, the report said, HTC is expected to spin off the new firm, which will be 100 percent controlled by Wang.

According to the business and industry inquiry services under the Ministry of Economic Affairs, the new company has paid-in capital of NT$1 million (US$30,864) and Wang is its chairwoman. The government data shows that HTC founder Cho Ho-tu and Wang’s husband Chen Wen-chi are on the board of directors.     [FULL  STORY]