Alphabet, Inc. Just Proved It Really Is Making a Big Bet on Hardware
Hardware is one of Google's "three most promising bets," right alongside YouTube and Cloud, according to Google CEO Sundar Pichai. And now Alphabet's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google is taking its investment in its 2016-launched Made by Google products even further. Google is acquiring part of smartphone-maker HTC in a $1.1 billion deal to "fuel further innovation and future product development in consumer hardware," Google said in a press release on Wednesday.
The deal has big implications for Alphabet. Namely, it reinforces the company's growing efforts to ramp-up its Google-branded hardware efforts, proving Alphabet is taking the opportunity as seriously as it says it is.
The Google Pixel smartphone. Image source: Google.
Source: Fool.com
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