Business
11:23, 21-Sep-2017
Google to buy part of HTC's smartphone operations for $1.1 billion
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Alphabet Inc’s Google will acquire part of Taiwanese smartphone maker HTC’s smartphone operations for 1.1 billion US dollars, the companies said in a joint statement on Thursday.
Under the deal, Google will acquire a team of people who develop Pixel smartphones for the US firm and receive a non-exclusive license for the firm’s intellectual property.
The transaction, which is subject to regulatory approvals, is expected to close by early 2018.
HTC once had a 10 percent share in the mobile phone world market - it now accounts for less than one percent of handsets sold worldwide. /VCG photo
HTC once had a 10 percent share in the mobile phone world market - it now accounts for less than one percent of handsets sold worldwide. /VCG photo
Source(s): Reuters