HTC moves Vive VR business into separate subsidiary

June 30, 2016
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Newsbrief: Mobile manufacturer HTC has distanced itself slightly from its virtual reality pursuits by turning its Vive business into a separate, wholly-owned subsidiary.

The spin-off company has been named the HTC Vive Tech Corporation, and should allow the headset and those businesses associated with it to succeed or fail on their own merits.

"HTC can confirm that it has established a wholly-owned subsidiary, HTC Vive Tech Corporation, as a vehicle for developing strategic alliances to help build the global VR ecosystem," said the smartphone maker in a quick statement to The Verge.

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