The China Post
Date: November 18, 2016
By: China, CNA
SHENZHEN, China — Taiwan-based smartphone vendor HTC Corp. (宏達電) said on Thursday that it
has teamed up with the Shenzhen Municipal Government to raise 10 billion Chinese yuan (US$1.46 billion) for virtual reality development.
HTC signed an agreement with the Shenzhen government on Thursday to establish a strategic partnership in VR development through the Shenzhen VR industrial development fund.
The fund is designed to develop critical VR technology and allows the participation of enterprises, schools, research institutes and investors, HTC said.
In addition to the planned 10 billion yuan fund, HTC and Shenzhen city government will set up a VR research institute, providing training in the field, the Taiwanese firm said. [FULL STORY]