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Monday, July 23, 2012

HTC and Beats Electronics realign their business agreement

Beats founders to take control of audio business again

Last year HTC Corporation announced a partnership and investment deal with Beats Electronics, the company behind ‘Beats by Dr. Dre’ audio products.

It’s now selling some of its stake back to the founding members of Beats, which will give the founders around 75% ownership while HTC will be left with approximately 25%. HTC will continue to have an exclusive deal to use the Beats brand within the mobile industry.

In a statement, HTC said “Over the last year, HTC and Beats have made great progress in sound innovation, product integration and brand awareness with successes like the HTC One. HTC and Beats will continue to work closely, including a joint global marketing campaign later this year.”

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Author: The Fonecast
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Categories: Handsets and manufacturers, NewsNumber of views: 2827

Tags: music htc audio beats

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