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HTC losing $40 Million from OnLive

on August 20, 2012

HTC, a Taiwanese smartphone maker said on Monday it will book a $40 million loss from its investment in U.S. cloud gaming service OnLive.

HTC made its $40 million investment in OnLive in February of last year, in what was seen as a move to eventually bring more online games to its company smartphones. OnLive, which streams games over the Internet through PCs, also started hosting games for Android tablets and smartphones at the end of 2011.

Due to high infrastructure costs associated with running its gaming service the U.S.-based company has been forced to restructure. On Friday, the company said, an unknown company OnLive had been acquired. And as part of the restructuring a number of unknown company’s employees have been laid off.

 

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