HTC takes $40 million hit from OnLive issues
Smartphone maker loses investment as streaming business restructures
Smartphone manufacturer HTC has announced that it has taken a $40 million hit from an investment in OnLive, lost after the game-streaming company restructured at the end of last week.
No details of the investment or the transference of OnLive's assets were made public, but HTC did claim that OnLive has suffered from a "lack of operating cash and an inability to raise new capital," resulting in its current financial strife.
HTC had made the $40 million investment in February, 2011, hoping to bring more content to its smartphones via an app for the service. OnLive had also recently started hosting Android games.