Google buys $1.1bn piece of HTC

REUTERS

Rumored for some time, Google's purchase of a significant chunk of handset-maker HTC was announced today. The WSJ:

Google said an HTC team that helped develop Google’s flagship Pixel smartphone will join the company. The Mountain View, Calif., company will also get a nonexclusive license to HTC intellectual property.

HTC was hired by Google to be the contract manufacturer for the Pixel, a high-end smartphone that was launched last year, in part to better compete with Apple Inc.

$1.1bn in cash is probably most of HTC. The company's market share evaporated over the last half-decade but it remains a well-respected manufacturer.

Alternative Betteridge headline: "Will Google buying HTC go better than Google buying Motorola?"

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