HTC will be stopping all trading later today
A few weeks ago we told you about a rumor that HTC is in final talks with Google in regards to selling off its mobile arm, and today all signs point to that happening. According to Tim Culpan of Bloomberg Gadfly, HTC said it will halt all trading of its stocks in the Taiwan Stock Exchange later today, pending a major announcement. We expect that announcement to be Google’s acquisition of the brand’s mobile assets.
JUST IN:
HTC just announced it’s shares will halt trading tomorrow (Thur) pending a major announcement.— Tim Culpan (@tculpan) September 20, 2017
Why would Google want to buy HTC? Well, ever since it let go of Motorola a few years ago, the brand has been forced to work with other manufacturers in creating Nexus-branded devices and now, Pixel smartphones. Despite their massive war chest, Google doesn’t have their own hardware arm, and regularly taps other companies to create key hardware for their initiatives. And what better brand to buy for their mobile efforts than the company that built their first Pixel smartphones?
With HTC’s mobile assets, Google will finally be able to completely design, build and release their smartphones completely in-house, allowing for better implementation of their vision moving forward. Despite its past troubles, HTC has remained one of the more solid smartphone brands in the market. And if the rumors are true, HTC as a company will remain, as the acquisition will only center around HTC’s mobile arm and not their highly profitable VR team.
We’ll just have to find out later today what the extent of Google’s acquisition is.
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