Google Close to Deal for Part of Smartphone Maker HTC

Google Close to Deal for Part of Smartphone Maker HTC”

Nonetheless, Google would inherit a company in dire straits - a Bernstein analyst reportedly suggested that HTC should cut half its staff, just to break even on its smartphone business. The deal also includes a "non-exclusive license" for HTC's intellectual property.

The agreement is a testament to the decade-long strategic relationship between HTC and Google around the development of premium smartphones.

Local media in Taiwan is speculating that HTC will sell its smartphone department to Google.

After the Motorola experiment, Google carried on with its Nexus program by partnering with smartphone makers to release handsets that ran the company's preferred, Google-managed version of the Android operating system. Today the network was laid out his new renders, as well as insiders has declassified information about its cost, and it will be the most expensive mobile phone from Google in history.

"We will see HTC continue as an entity and create devices".

"HTC has been a longtime partner of Google and has created some of the most lovely, premium devices on the market", said Rick Osterloh, Senior Vice President of Hardware at Google. In a blog post, Osterloh says, "With this agreement, a team of HTC talent will join Google as part of the hardware organization".

In 2011, Google bought Motorola in a $12.5 billion deal, only to resell it to Lenovo for $2.91 billion three years later (Google had sold off other parts of Motorola earlier).

Evercore served as financial advisor to HTC and Gibson Dunn and Tsar & Tsai acted as legal counsel. Some reports speculated that a deal with Google would be announced, based on previous information from sources.

About HTC HTC Corporation aims to bring brilliance to life.

Two market watchers told the Nikkei Asian Review that HTC is expected to sell the department responsible for making smartphones for Google to its US customer. HTC is listed on the Taiwan Stock Exchange (TWSE: 2498). The company will likely make the details known tomorrow when trading wraps for the day. Google is a subsidiary of Alphabet Inc.

But despite the company's proven ability to design and produce excellent hardware, HTC has in recent years been unable to release a hit with consumers that approaches sales of Samsung's Android phones or the iPhone.

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