Phone maker HTC to sell Shanghai plant
Taiwan smartphone marker HTC is planning to sell its factory in Shanghai to lower costs, the Beijing Business Today reported. Although the name of the buyer has not been disclosed, market observers believe that it is most likely a Chinese mobile phone brand. HTC’s Shanghai plant was built in 2009 with an investment of $32.2 million, and its output peaked at 2 million units in 2011. The smartphone maker reported a loss of more than $200 million in the second quarter of this year, with its revenue falling 50 percent year-on-year.