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(Pocket-lint) - When you hear the name HTC, do you think about phones or VR?

A couple years ago, you might've said phones, but now, you're probably thinking about the company's VR headset. After all, HTC hasn't exactly dominated the mobile device space in a while, and its financial earnings have been going down, to say the least, though the company has managed to stem operating losses in recent quarters. Nevertheless, it's no surprise to hear HTC is exploring its options.

More specifically, HTC obtained a new adviser to help it navigate future waters, according to Bloomberg. It's currently mulling the idea of spinning off or selling the Vive virtual reality business. Although the headset has been critically praised, it was lowered by $200 this past week. HTC is even considering a sale of the entire company, rather than separating its core businesses, but it would need to find a buyer.

HTC's smartphone business is obviously far from dead. The U11 flagship that just came is well liked by some, but it's no Galaxy S8. Let's also not forget that HTC’s last other new phone, the U Ultra, didn't sit well with reviewers, and it's never been made available to US carriers. Still, HTC is rumoured to be making the next Google Pixel, which should debut in October, so apparently it's not doing too bad with phones.

The Vive, on the other hand, is definitely a standout product that supposedly sold over 190,000 units in the first quarter, IDC has estimated. A standalone HTC VR headset based on Google's Daydream platform is also in the works for later this year. So, at least Google has a lot of confidence in HTC. Maybe it could buy the company?

(Kidding, kind of.)

Writing by Elyse Betters.