Google to buy part of HTC's smartphone operations for around $1 bln -source

HONG KONG/TAIPEI, Sept 21 (Reuters) - Alphabet Inc's Google is set to announce a deal to acquire part of Taiwanese firm HTC Corp's smartphone operations for about $1 billion, a source with direct knowledge of the matter said on Thursday.

The deal will not involve the purchase of a direct stake and HTC will continue to run its remaining smartphone business, the source said, declining to be named as the information has not been publicly announced.

HTC said in a filing to the stock exchange that it would hold a news conference at 0200 GMT on the signing of an "important cooperation agreement." (Reporting by Kane Wu and Jessica Macy Yu; Writing by Miyoung Kim; Editing by Edwina Gibbs)