Razer wants in on the thriving mobile industry.
Bloomberg reports that the company is eyeing an initial public offering for sometime around October. The value of Razer is expected to be $3 billion to $5 billion, and the money raised would be heavily allocated towards the development of a mobile device. Intel and Temasek Holdings are among the investors who have fueled Razer’s ability to create new hardware over time. Razer, however, wants to go solo into the future.
People familiar with Razer’s plans say the company is going to build a phone for “hardcore gamers.” That shouldn’t be a surprise as everything else produced with the green three-headed snake is made for consumers serious about gaming.
Creating a new phone isn’t easy, especially if you’re not a veteran in the mobile industry. But Razer wouldn’t be diving into the business without any experience. Earlier this year the company acquired Nextbit for an undisclosed amount of money. If you happened to have forgotten, Nextbit created the Robin as the world’s first cloud-first mobile device. It relied heavily on the cloud to give users flexible storage for apps, photos, and videos. The experience of Nextbit’s team, which was largely comprised of former Google and HTC employees, gives Razer an edge.
There could be something in Nextbit’s cloud technology that gets worked into the gaming-focused features. Perhaps remote play from a Razer laptop will be possible, and maybe the cloud could pick up some extra processing power for high-end titles to run smooth. If it didn’t plan on leveraging the cloud, Razer wouldn’t have purchased Nextbit. Based on the quality of existing products, we know the hardware engineers at Razer are talented.
Razer is still months away from an initial public offering, so its first phone probably won’t debut until the middle of 2018 assuming things go as planned.