HTC will design and release a mobile VR solution this year.

HTC isn't selling as many phones as it used to, and is now referring to itself as a "VR company," much to the delight of its shareholders.

The company has informed CNET UK that is working on a mobile version of the HTC Vive, though the design and functionality is not yet clear. What is clear is that "it's not a phone slapped onto a headset. It'd be a different thing," according to CFO Chia-lin Chang.

The Vive, while great, requires a very powerful PC and a rat's nest of wires to function properly, while solutions like Google Daydream and Samsung Gear VR merely require a compatible smartphone. They're not as powerful, obviously, but you can take it with you.

HTC promises something in the middle, perhaps a bit more standalone, and slightly more powerful, than Google's and Samsung's approaches, but more portable than a Vive. According to HTC, the solution will be compatible with its new HTC U Ultra flagship, and will be released before the end of 2017.