Phone maker HTC to sell Shang­hai plant

China Daily (Canada) - - SHANGHAI -

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.

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