HTC to Post $40m Loss Due to OnLive Failure

Things just can’t seem to go right for Taiwan-based HTC these days, as the company will be posting a $40m loss due to the failure of OnLive, a cloud-based gaming service the company invested in heavily with the hopes to bring gamers to its smartphones and tablets.

OnLive imploded this weekend with the CEO calling an impromptu meeting and announcing the entire company was filing for bankruptcy and restructuring under another unknown investor. It was reported that the service only had around 1800 concurrent users, despite the nearly 2 million accounts that had been made over the course of the service’s brief lifetime. With the restructuring and subsequent selling to a new owner, HTC has lost all investments made into the property.

This isn’t the first time HTC has made such a misstep in investing, as the Beats audio investment for the company has turned out to be a flop as well. HTC’s reputation will likely continue to take a beating as the OnLive situation unfolds, but we sincerely hope the company can get things turned around for itself considering it is an official launch partner for Windows Phone 8.

[via FocusTaiwan]