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HTC Flogs Land For $118M To Fund New R+D

HTC who recently launched their new 10 smartphone, has recently sold a large block of land for $118M, the money is set to be invested into the development of new products.

The Taiwanese Company who is also taking a leading position in the development of virtual reality products is confident that they can swing back to profitability in the second quarter after major capital investments into R+D.

Although HTC has begun shipping its HTC Vive virtual reality (VR) devices and also launched recently its new flagship smartphone model, the HTC 10, the two items are unlikely to ramp up the company’s revenues significantly in the short term, explained Company executives.

HTC saw its revenues decline 64% on year to NT$14.8 billion in the first quarter of 2016, and the sluggish performance is likely to result in a loss of NT$2 per share for the quarter, the sources estimated.

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