(Yicai Global) Sept. 21 -- Google and Taiwanese phone maker HTC Corp. [TPE:2498] have reached a USD1.1 billion deal. Google acquired non-exclusive licensing for HTC intellectual property and will take on members of the team that designed and engineered Pixel mobile phones.
The workers will join Google's hardware division. HTC will retain its own mobile phone brand and part of the team and will continue to put out new products, Jiemian quoted insiders as saying.
HTC Chief Executive Cher Wang attended the internal company meeting where her company officially announced the agreement with Google at 10.00 a.m. today.
Google has previously taken on several hardware engineers from HTC's mobile phone division.
Google and HTC have had a close relationship in mobile phone manufacturing. The latter was the original equipment manufacturer for the Pixel phone that went to market last year. Google worked with HTC on the Pixel 2, which is due for release next month.
Over the past five years, HTC's market capitalization has fallen almost 75 percent to USD1.9 billion and its mobile phone business accounted for less than 2 percent of the global smartphone market. In the world rankings, HTC takes up 0.68 percent of the market and is not in the top 10, International Data Corp. information shows.