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HTC is spinning off VR headset Vive into its own company

HTC is spinning off Vive, its virtual reality headset, into its own company. In a statement to The Verge, the company said it “has established a wholly-owned subsidiary, HTC Vive Tech Corporation, as a vehicle for developing strategic alliances to help build the global VR ecosystem.”

The move gives Vive the opportunity to continue, even if HTC’s smartphone business, which has been struggling over recent years, begins to fold. Earlier this week, HTC announced a new app store for its headset, called Vive Port, as well as a new venture called “VR Venture Capital Alliance,” an investment group with $10 billion in funds to help further than advancement of VR.EP