Short Bytes: Gaming hardware maker Razer is planning for an IPO in Hong Kong, according to a report. This offering will help the company to gather funds for developing its smartphone, which will be dedicated to hardcore gamers. Razer is aiming for an October IPO, according to sources.
Earlier this year, gaming hardware maker Razer acquired Nextbit, the company behind the cloud-based Robin smartphone. Back then, Razer promised that Nextbit would release smartphones with unique designs and experiences. Now, months after the announcement, Razer has revealed more details regarding its plans for the future.
Razer is planning to go for a huge $5 billion IPO in Hong Kong for expansion in China, according to a Bloomberg report.
This public offering will help Razer secure funds for the development of its own mobile phone. Bloomberg’s sources have said that the under-development mobile device will serve Razer’s consumer base of hardcore gamers.
At the moment we can’t confirm that Android would power Razer’s smartphone. However, given the involvement of Nextbit, no factor should point otherwise.
This is an interesting move as Razer enjoys an enviable reputation in the gaming hardware market. The sources also hint at Razer’s listing sometime in December.
Apart from its hardware, Razer is also developing a virtual currency called zGold. Backed by the likes of Intel and Temasek Holding Pte., Razer is also building a software platform for connecting 35 million gamers.
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