Not playing Metaverse anymore? HTC sells XR business to Google for $250 million, Wang Xuehong: VIVE brand remains unchanged.

HTC announced today that it will sell a portion of its XR (extended reality) business to Google for $250 million, following the sale of its mobile phone division in 2017. HTC Chairman Wang Xuehong issued an internal memo to employees, stating that the company's commitment to building the VIVE brand and providing innovative VIVE XR solutions will remain unchanged. The existing product line will continue to be supported and innovative research and development will be ongoing. The protocol signed with Google will not be exclusive, allowing HTC to continue using Google's IP, and both companies will explore future collaboration opportunities. The transaction is expected to be completed in the first quarter of this year. This move strengthens HTC's strategy in developing the XR ecosystem, streamlining the product portfolio, and achieving higher operational efficiency and financial flexibility. Despite HTC's recent focus on the VR and AR fields, the company has faced continuous losses for the past 26 quarters, totaling over 3 billion shares by the end of last year. The future impact of this transaction on HTC's business remains uncertain.