OnLive Restructuring Costs HTC Another Loss Of $40 Million

Posted on Aug 20 2012 - 11:57am by Editorial Staff

HTC 300x112 HTC Announces Unaudited Results Of $835 Million For July 2012, $6.15 Billion For First Half 2012

Although Taiwanese mobile maker HTC hit high with second quarter 2012 earnings woes already, IDG reports that the company loses another $40 million in wake of restructuring cost it made for its cloud service OnLive. The company announced the investment loss in a Taiwan Stock Exchange filing, blaming on by giving the reason that there is a “lack of operating cash and an inability to raise new capital.”

High infrastructure cost associated with running of day-to-day operations of service, results in OnLive failing to make profit. The company on Friday even made a mentioned that service being acquired by an “anonymous owner,” allowing OnLive to breathe again and continue its operations.

(Image Source: HTC logoFeatured Image)

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.