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HTC recently posted its financial results for the previous quarter and it wasn’t good news, investors reacted by sending the company’s stock price in a downward spiral. There is a lot that HTC has to do to ensure that it remains in the very competitive mobile market and while the company works up new devices that might aid in achieving the goal, it appears that it’s further tightening its belt and getting rid of assets that might help plug the financial woes to some extent.

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According to a new report HTC is in talks to sell its factory in Shanghai, it has reportedly decided to do this following the less than spectacular quarterly results which might have forced the company to rethink its priorities.

The report claims that HTC is in talks with an unnamed Chinese OEM who might be willing to take the factory off of the company’s hands, with so many up and coming OEMs in China it could be anyone from the likes of Xiaomi and Oppo.

HTC has already confirmed its plans for a round of layoffs in which as much as 15 percent of the company’s staff will be let go, getting rid of a factory will further help the company in cutting down its costs so that it remains afloat.

Keep in mind though that HTC hasn’t confirmed this so far, take this news with a grain of salt for now.

Filed in Cellphones. Read more about . Source: gsmdome

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