HTC suspends share trading amid Google takeover rumours
Once a key smartphone player in the Android ecosystem, HTC is heading towards a sad demise. The Taiwanese manufacturer has suspended the trading of its shares on Taiwan Stock Exchange (TWSE) amid rumours of a Google takeover.
As per a note published on TWSE website, HTC shares won’t be available for trade beginning September 21 pending a major announcement.
Although no official details about this ‘major announcement’ are known at this point, speculation has been rife for sometime that Google is in talks with HTC to acquire the company. However, it is quite possible that some other company might end up buying HTC out. After a disastrous Motorola Mobility acquisition, it makes little sense for Google to buy HTC.
After touching the peak of NT$1238.1 back in April, 2011, HTC’s share price has only gone down, barring odd periods of some growth. The company’s share price touched a low of NT$69.3 earlier today.
HTC was the first manufacturer to launch an Android smartphone and one of the few companies to offer Windows Mobile and Windows Phone devices. Once touted for its design prowess and great build quality, HTC struggled to remain relevant amid the rise of Samsung’s Galaxy smartphones. For most consumers, Samsung Galaxy became a more recognizable brand than even Android and few cared for HTC phones.
As and when HTC reveals more details about this major announcement, we will bring you all the details right here.
via Tim on Twitter