Google pays $1.1bn for HTC’s Pixel
The all-cash deal means 2,000 HTC employees will join Google – about one fifth of HTC’s workforce – although it does not include any manufacturing assets.
While all eyes have been on Apple’s latest iPhone launch, this deal is Google’s second foray into the phone market and reasserts its desire to have its own Android device.
It bought Motorola Mobility for $12.5bn in 2012 but sold it to Lenovo for less than $3bn in 2014.
Pixel smartphones were launched a year ago and have less than 1% market share according to IDC. New products launches are expected next month. However HTC has suffered reduced market share in recent years.
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