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HTC to book US$40 million loss on OnLive stake

2012/08/20 11:31:19

Taipei, Aug. 20 (CNA) Taiwan’s HTC Corp. said Monday it expects to book an investment loss of US$40 million on its stake in the U.S.-based cloud gaming service provider OnLive Inc.

"Due to a lack of operating cash and an inability to raise new capital, OnLive applied over the weekend for asset restructuring,” HTC said in a filing with the Taiwan Stock Exchange.

HTC, a smartphone maker based in Taoyuan, invested US$40 million in OnLive in February 2011 with the aim of attracting more consumers by offering a wider range of services.

(By Jeffrey Wu)