IC design house MediaTek plans to spin off its virtual reality (VR) division to form an independent company in a bid to boost its VR business, according to a recent Chinese-language Economic Daily News (EDN) report.

MediaTek, however, issued a company filing with the Taiwan Stock Exhchange (TSE) saying it was not the source of the report.

MediaTek could spin off its VR business unit as soon as June, the report said, without citing its source. MediaTek's VR unit was set up between end-2015 and early-2016 to focus on the development of the company's VR solutions for handsets, the report indicated.

By: DocMemory
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