When it comes to financials, it seems HTC can't catch a break lately. The Taiwanese manufacturer says it'll book a loss of $40 million from its investment in troubled cloud gaming provider OnLive. OnLive, as you may remember, last week underwent restructuring and was sold to a newly-formed company in order to avoid bankruptcy.
HTC invested in OnLive in February 2011, at the height of its success in the smartphone market. Since then, however, OnLive has been absent from all of the company's noteworthy devices, and it's continued to struggle financially due to the high operating costs associated with cloud gaming. This isn't the first time an HTC investment has gone sour. The manufacturer's investment in Beats Audio is another recent example -- that company's founders recently bought back half of HTC's investment in Beats, after Beats Audio integration failed to differentiate HTC's high-end smartphones.
Elsewhere, HTC's profits and market share continue to be squeezed, with July revenues down 45 percent from 2011 to 2012. The company will be hoping an expected fall refresh of some devices will help it deal with increasingly fierce competition from the likes of Apple and Samsung.
Source: PC World
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