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HTC to Sell Shanghai Phone Factory for $91 Million, Invest Proceeds in VR Business

htc-vive-scatter1-1021x580Despite its major role in the growing VR space, HTC’s overall business continues to struggle financially, posting significant losses over the last two years. Working to turn things around with a restructuring of assets and priorities, the company is facing the sale of a smartphone factory in Shanghai. The proceeds from the $91 million sale will largely funnel toward the company’s Vive VR business, according to China Daily.

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