Google and HTC Corporation have announced a definitive agreement under which certain HTC employees — many of whom are already working with Google to develop Pixel smartphones — will join Google. HTC will receive $1.1 billion in cash from Google as part of the transaction. Separately, Google will receive a non-exclusive license for HTC intellectual property (IP).
“The agreement is a testament to the decade-long strategic relationship between HTC and Google around the development of premium smartphones,” a press release said.
“This agreement also supports HTC’s continued branded smartphone strategy, enabling a more streamlined product portfolio, greater operational efficiency and financial flexibility. HTC will continue to have best-in-class engineering talent, which is currently working on the next flagship phone, following the successful launch of the HTC U11 earlier this year. HTC will also continue to build the virtual reality ecosystem to grow its VIVE business, while investing in other next-generation technologies, including the Internet of Things, augmented reality and artificial intelligence,” it added.
Cher Wang, chairwoman and CEO of HTC, said: “As a pioneer of the smartphone market, we are very proud of our history of innovation. Our unmatched smartphone value chain, including our IP portfolio, and world-class talent and system integration capabilities, have supported Google in bolstering the Android market.”
She added: “This agreement is a brilliant next step in our longstanding partnership, enabling Google to supercharge their hardware business while ensuring continued innovation within our HTC smartphone and VIVE virtual reality businesses. We believe HTC is well positioned to maintain our rich legacy of innovation and realize the potential of a new generation of connected products and services.”
The agreement is expected to further reinforce Google’s commitment to smartphones and overall investment in its emerging hardware business.
It represents a significant investment by Google in Taiwan as a key innovation and technology hub, according to the statement.
“HTC has been a longtime partner of Google and has created some of the most beautiful, premium devices on the market,” said Rick Osterloh, senior vice president of hardware at Google. “We’re excited and can’t wait to welcome members of the HTC team who will be joining Google to fuel further innovation and future product development in consumer hardware.”
Google, HTC announce $1.1bn cooperation agreement
Google, HTC announce $1.1bn cooperation agreement
LuLu opens two new stores in Riyadh and Dammam
LuLu Retail has further expanded its presence in Saudi Arabia with the unveiling of two state-of-the-art shopping destinations in Riyadh and Dammam. These new stores are designed to bring a modern shopping experience closer to residential neighborhoods, offering everything from daily groceries to household essentials under one roof.
The expansion includes a massive flagship hypermarket and a convenient express store, each tailored to meet the needs of the local community with high standards of service and variety.
Recently, Yusuffali M. A., chairman of LuLu Group, reaffirmed the group’s commitment to continuous growth while ensuring an uninterrupted supply of products and maintaining stable prices for customers.
The largest of the new openings is located in the Suwaidi district of Riyadh. This massive flagship hypermarket covers more than 400,000 square feet and is built to be a one-stop shop for the capital’s residents.
The store was officially inaugurated by Mohammed Khalid Al-Shalfan, investors relationship manager at the Ministry of Investment, and Matar Salem Ali Marran Al-Dhaheri, ambassador of the UAE to Saudi Arabia.
This new retail landmark features an extensive range of departments, including grocery food and non-food items, beauty and wellness, chilled and dairy products, frozen foods, and a roastery. Shoppers can also find fresh fruits, vegetables, a bakery, and a delicatessen, as well as fresh meat and fish sections. A unique feature is the fresh food dining area. For tech enthusiasts, there are dedicated sections for computers, gaming, telecom, mobile phones, and consumer electronics. The store also carries stationery, household goods, home furnishings, toys, luggage, and footwear, all supported by more than 100 parking spaces.
Meanwhile in Dammam, LuLu inaugurated a new LuLu Xpress store and the LOT, a value shopping destination, in the Faisaliya district. The store was officially inaugurated by Mansour Al-Binali, assistant director general of the Ministry of Human Resources and Social Development for the Eastern Province.
Covering 33,000 square feet, the store includes a wide range of products with fresh food, local produce, and meat, along with a section for technical consumer goods featuring the latest electronics and gadgets.
The LOT Value Shop focuses on high-quality items at affordable prices. Residents can shop for household goods, home furnishings, stationery, toys, and educational products, most of which are priced below SR22 ($5.86).
For added convenience, the location provides nearly 100 parking spaces.
LuLu has launched special inaugural offers across all departments in both the Riyadh and Dammam stores. These promotions allow customers to enjoy significant savings on a wide range of products and international brands. This expansion reinforces LuLu’s commitment to supporting the Kingdom’s retail growth and providing quality service to neighborhoods across Saudi Arabia.
