Music producer Dr Dre (right) with Interscope chairman Jimmy Iovine (left) andHTC chief executive officer Peter Chou after it was announced that HTC hadpurchased a majority stake in Beats Electronics LLC.
August 13, 2011
HTC buying stake in Dr Dre headphone maker
Taiwanese smartphone maker HTC Corp says it will pay about US$300 million for a 51 percent stake in the US maker of Dr Dre headphones.
HTC said Thursday its alliance with Dr Dre’s Beats Electronics LLC will provide a “flawless listening experience for our customers.”
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The high profile music producer founded Beats Electronics in 2006. The company’s headphones cost as much as US$600.
The Taiwanese company’s acquisition is likely aimed at improving its brand profile and securing a bigger global market share of the high-end smartphone market.
HTC is a leading handset manufacturer that is best known for its Android-based smartphones.
