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HTC forms $10 billion alliance to develop virtual reality

The HTC Vive.

SHANGHAI -- Taiwanese smartphone maker HTC will lead a venture capital alliance to develop the virtual reality market, hoping to find growth in the new technology as it turns its focus away from the loss-making smartphone sector.

The alliance will pool over $10 billion to invest in VR sectors such as content, applications and education, Alvin Wang Graylin, China regional president of VR at HTC said on Thursday.

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