HTC to suspend stock trade Thursday, citing ‘major announcement’

A notice came amid reports of a possible sale to Google on Thursday. (The China Post file photo)

Taipei – Taiwan-based tech firm HTC said it will suspend stock trade Thursday pending a “major announcement.”

Local media outlets reported earlier Thursday that HTC has been decorating its headquarters in New Taipei, apparently in anticipation of heavy media presence to cover the announcement of an acquisition deal with Google, adding that HTC Chairwoman Cher Wang is currently in Taiwan and could be breaking the news herself to HTC employees. HTC did not comment on the report Thursday other than calling them speculations and rumors.

Talks of a possible Google acquisition of HTC – either the whole firm or its smartphone team – have been around for months. The Taiwanese firm, once seen as a up-and-coming challenger to Apple Inc., has seen sharp declines in profit and market share as it’s headsets are squeezed between the high-end models produced by Apple and Samsung and the cheap phones manufactured in China.

In an example of HTC’s dramatic rise and decline, its current share price (NT$69.3) is only 5 percent of its historic high of NT$1,300 reached in 2011, when HTC was the highest priced stock on the Taiwan Stock Exchange. The current top-priced stock title goes to Largan, a major supplier of iPhone camera lens. 

The China Post staff