The logo of HTC is seen at its store, in Taipei, Taiwan August 1, 2017. REUTERS/Tyrone Siu

(Reuters) - Smartphone maker HTC Corp 2498.TW is exploring options that could range from spinning off its virtual reality (VR) business to selling itself, Bloomberg reported on Thursday, citing people familiar with the matter.

The Taiwanese firm is working with an adviser as it considers bringing in an investor or selling its Vive VR headset business, according to the Bloomberg report. (bloom.bg/2iu4j9r)

A full sale of the company is less likely as it does not fit obviously with one buyer, Bloomberg reported.

HTC’s market value has fallen almost 75 percent to $1.78 billion in the last five years as its smartphone business has suffered heavily.

The company has been trying to turn around its business by focusing on high-end VR headsets.

HTC has a 8.4 percent share of the AR/VR headset market, as of the first quarter of 2017, according to research firm IDC.

Earlier in June, HTC said its VR headset will be compatible with Apple Inc's AAPL.O High Sierra operating system, which is scheduled for release later this year.

HTC competes with Sony Corp's 6758.T PlayStation VR headset and Oculus' Rift headset which retails in the same price range.

HTC did not immediately respond to a request for comment, outside regular business hours.