Santa Monica, Calif. — HTC Corp. announced today a partnership with Beats Electronics that includes the mobile company making an investment of $309 million in the Dr. Dre-affiliated digital sound and accessories company.
HTC’s 51 percent stake in the U.S. company that produces high-end headphones and speakers will push HTC along in its pursuit to fend off rising competition and enhance its global branding. With its partnership, the company will create mobile audio features for consumers that will result in a new line of phones for the fall.
“Beats has found a unique way to harness popular culture in a manner that is unlike any other brand today,” said Peter Chou, CEO of HTC Corporation. “It’s an exciting brand that has been built around providing something very special, and we believe our strategic partnership will provide customers with unbeatable sound on HTC phones. We obsess over every detail of a consumer’s mobile experience and audio is a critical part of that experience.”
Beats Electronics was founded by Jimmy Lovine and Dr. Dre, a U.S. music producer and rap artist. The company already has a deal with Hewlett Packard that integrates its technology on HP TouchPads and PCs.
http://tinyurl.com/3zpmd3p (HTC Press Release)
Photo L to R: Jimmy Iovine, HTC Corp. CEO Peter Chou, Dr. Dre