With the excitement surrounding Steam creator Valve getting involved with virtual reality (VR) technology, it can be easy to forget that Taiwanese smartphone maker HTC made it all possible. The company has partnered with Valve to create the HTC Vive, the first of what many hope will be a series of head-mounted displays (HMDs) using the latter’s SteamVR system. HTC itself appears to be feeling very positive about the reception to its HMD thus far, and will be continuing to focus on work in VR development in the future.

HTC CEO Cher Wang said as much this week at the company’s general annual meeting, as reported by Taipei Times. Wang first apologised for the news that HTC’s stock price had dropped to a 12-year low of NT$98. She then turned his talk towards a positive future, however, using the HTC Vive. Wang stated that the device has been seen a good response from the market since its reveal at the Mobile World Congress (MWC) in March 2015, and that the company would continue to focus on VR development going forward.

“I am upbeat about HTC’s outlook. We aim to focus on developing the right products,” Wang said.

The HTC Vive uses Room-Scale tracking, provided by Steam VR. This consists of a new position tracking system known as Lighthouse that allows users to walk around an area of up to 15 feet by 15 feet and have those movements replicated within the given experience. Users are also fitted with two motion-tracked controllers. Valve is expected to start shipping out the first developer kits to successful applicants in the very near future. These kits will then continue to ship throughout this summer ahead of a full consumer release in time for holiday 2015.

A specific release date or price for the HTC Vive is not yet known, though it is sure to launch ahead of both the Oculus Rift and Project Morpheus. VRFocus will continue to follow the kit’s progress, reporting back with the latest updates on it.