When It Rains… It Pours: HTC To Lose $40 Million Because Of OnLive Restructuring


It’s no secret online gaming service OnLive isn’t doing too well, but it’s affecting other companies as well. HTC (which isn’t doing so well financially itself) has recently announced it will have to book a $40 million loss from its investment in OnLive because of a “lack of operating cash and an inability to raise new capital“. Both HTC and OnLive are no stranger to one another either, as HTC made a $40 million dollar investment, yet OnLive was noticeably absent on most HTC devices released in the past year— despite the service streaming games over the internet on PC computers. OnLive has not made any follow-up statement regarding HTC’s latest announcement.

First the Beats Audio fiasco and now this— HTC just can’t catch a break this year. Here’s hoping it will continue to push the envelope with devices like the HTC One Series of smartphones.

source: PC Mag
via: Android Central

About the Author: Roy Alugbue

Conceived as Spock’s 4th cousin, Roy has had quite the life. He was born in beautiful San Jose, California, raised in Los Angeles, California and now resides in the greater New York City area. He has always been fascinated and obsessed with technology, especially the continuous advancements of mobile platforms. He was a Blackberry slave since his undergrad days at the University of Southern California until realizing in Feb. 2011, there were greener pastures in the land of Android. His first Android phone was the Motorola Atrix 4G, and he hasn’t looked back. He currently works in corporate media, enjoys following media and technology trends, reading a good book, weightlifting, playing on his XBOX 360 and conversing with total strangers.