HTC has confirmed to VRHeads that it has indeed set up a subsidiary company for its virtual reality business. The new company is called HTC Vive Tech Corporation (yes, that's HTC VTC). It's a 100 percent owned subsidiary, meaning it's controlled directly by HTC.

Rumors had swirled in recent days that HTC, whose overall business has been struggling to turn a profit over the past couple years, was potentially looking to split off the Vive business for the purposes of a sale. But it appears that's not actually the case. HTC tells us that it's created the subsidiary to develop "strategic alliances" to help foster the larger virtual reality world.

HTC Vive

Here's the official line from HTC:

"HTC can confirm that it has established a wholly-owned subsidiary, HTC Vive Tech Corporation, as a vehicle for developing strategic alliances to help build the global VR ecosystem."

While it's possible "developing strategic alliances" could at some point mean unloading Vive to someone else, for now the "spin-off" claims appear to be fruitless.

The $700 HTC Vive platform, unveiled by the smartphone manufacturer in partnership with Valve back at Mobile World Congress in 2015, has emerged as one of the top room-scale virtual reality units thanks in no small part to the depth of games, as well as the literal depth of the system itself. Vive allows the user to move around relatively freely, offering a different sort of immersion than any other commercially available VR system.