HTC acquires stake in China-based LBS provider, says paper

High Tech Computer (HTC) on April 20 announced that it will acquire a 10% stake in Shanghai-based location based service (LBS) provider Shanghai Gsuo Information Technology via a NT$155 million (US$5 million) investment, according to a Chinese-language Economic Daily News report.

Most HTC smartphones come with GPS, and teaming up with LBS providers enables users to locate points of interest such restaurants and gas stations, making the devices more practical, the report said.