Asus Chairman hints possible acquisition of HTC

Written By:

At a recently held annual meet up, Asus's chairman Jonny Shih reportedly hinted that the company might acquire HTC in near future. As per Reuters, Shih said that the company has not ruled out the possibility of buying HTC, which has been struggling with low financial performance and stock value for a long time now.

Click Here For The Latest Smartphone Gallery

Asus Chairman hints possible acquisition of HTC

HTC is a well know Taiwan-based smartphone maker, which has received accolades for some of its devices. However, the company is falling prey to the new OEMs who have changed the market scenario in the recent passed and are eating away a big chunk of the market share from top notch OEMs.

SEE ALSO: Top 10 Best Mid-range Smartphones Under Rs 15,000 for the Month of June 2015

For a long time now, HTC has been facing a rough phase, with its sluggish phone sales, plummeting revenues, and continuously sliding stock value. The company's market value plunged drastically since 2011 when it was valued at $33.8 billion USD.

The company recently also stated that it may register loss of a minimum of US$257 million for the quarter ending June 30. Considering that the company is struggling to churn out profit, it is likely for it to give up and be open for bidders.

SEE ALSO: Tech Deals: Top 10 High-End Smartphones with 3GB RAM for Great Multi-tasking

Reportedly, Asus's CFO David Chang mentioned at the same event that while the Chairman has discussed the topic of the purchase internally, the chances of purchase to happen are slim. Chang added that Asus traditionally depends on organic growth, which is why it may shun the idea of acquisition.

Read More About asus | htc | news | Mobile

Opinion Poll

Stay updated with latest technology news & gadget reviews - Gizbot