Jimmy Lai acquires 2% of Taiwan’s HTC

Invests US$81 million for stake.

Hong Kong-based media magnate Jimmy Lai acquired the 2% stake in HTC through the open market. Lai, founder and chairman of NextMedia group, is an active investor in the Taiwanese market.

Troubled HTC, however, has seen its share price plummet by 85% since April 2011. Media reports said it is unclear whether Lai will be among the backers of HTC's management or join the ranks of investors that want the company sold.

Some analysts believe Lai's move could be a gesture indicating confidence in HTC's troubled management. Once the darling of handset makers, HTC recorded its first loss in Q3. The market is alive with rumors HTC may meet the same fate as Nokia, which was recently sold to Microsoft.

Lai also founded Giordano International, an apparel retailer, and is known to be a canny investor in housing markets throughout Greater China.