Last month, there was some speculation that Beats Electronics was
going to buy back the 25% stake in the company held by Taiwan
manufacturer HTC. On Friday, that speculation became fact as HTC's 25%
stake in Beats Electronics was sold back to the company for $265
million. The Taiwan based manufacturer had originally owned 50.1% of the
company, a purchase made at the top of the market in 2011. A year
later, Beats founders Jimmy Iovine and Dr. Dre had purchased half of
HTC's majority ownership back.
HTC has fallen on hard times despite the success of its most recent flagship model, the Android powered HTC One. Beats has gone from strength to strength and has moved beyond headphones and earphones to car audio and is supposedly working on a streaming online music service.
HTC says that Beats remains an important partner and the company still uses the Beats Audio sound system on its handsets. The deal is expected to close by the end of the year.
via
HTC has fallen on hard times despite the success of its most recent flagship model, the Android powered HTC One. Beats has gone from strength to strength and has moved beyond headphones and earphones to car audio and is supposedly working on a streaming online music service.
HTC says that Beats remains an important partner and the company still uses the Beats Audio sound system on its handsets. The deal is expected to close by the end of the year.
via
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