HTC has denied a local media report indicating that the company plans to liquidate its headquarters building located in Hsintien, northern Taiwan.

A Chinese-language weekly Next Magazine report has claimed that HTC plans to sell its headquarters building in order to raise funds to further develop virtual reality (VR) and augmented reality (AR) products.

The report came after HTC sold a factory/office building in Taoyuan, northern Taiwan to notebook ODM Inventec for NT$6.06 billion (US$184.5 million) at the end of December 2015.

Meanwhile, HTC chairperson Cher Wang also told reporters on the sidelines of CES 2016 that the company will continue to manufacture it VR devices as well as high-end smartphones in Taiwan, and so the report indicating the company will liquidate its headquarters is groundless.