Apple’s (NASDAQ: AAPL) shares are trading 1.31% down at $153.95 after the $1.1 billion deal of Google (NASDAQ: GOOGL) buying the division at Taiwan’s HTC Corp was announced, Business Insider reports.
Google is trading up 0.17% to $949.27.
As it was announced earlier, Google offered to pay $1.1 billion for the division at Taiwan’s HTC Corp that develops the U.S. firm’s Pixel smartphones.
"With this agreement, a team of HTC talent will join Google as part of the hardware organization. These future fellow Googlers are amazing folks we’ve already been working with closely on the Pixel smartphone line, and we're excited to see what we can do together as one team,” Google's senior vice president of hardware, Rick Osterloh said in a statement.
Google began producing its own phones last year when it launched the Pixel phones.
HTC was a primary partner for the phones and is helping Google make one of the second generation Pixel models set to be released on October 4th.