HTC sells factory and land

HTC CEO Cher WangHTC will sell a building and land to Inventec for $174 million.

The troubled Taiwanese smartphone company told the Taipei Times the move was part of its plans to cut costs.

The factory and the land will be bought by Inventec but HTC insisted that the sale won’t affect the company’s ability to produce or to ship products.

People that worked at the factory, which is in Taoyuan, will keep their jobs but move to three other HTC facilities on the island.

The sale is expected to be complete in spring of 2016.

HTC had a troubled 2015, with consecutive losses in its first three financial quarters.