TAIWANESE PHONE MAKER HTC will buy a 51 per cent stake of Beats Electronics for $300m.
HTC has confirmed with The INQUIRER that it will buy a majority stake in Beats Electronics for $300m in for its fifth aquisition of the year. The smartphone maker has announced a partnership with the firm, which will see handsets with integrated Beats Audio tip up this Autumn that will "redefine the smart phone industry and define the future".
HTC said, "HTC and Beats have been working together to create superior mobile audio experiences for consumers, which will result in a line of HTC devices integrated with Beats sound innovations, available this fall."
We've spoken with HTC and it can't confirm whether the handsets will have Beats branding on them but it said that it couldn't see why they wouldn't.
This isn't the first time the firm which makes the well-known and expensive Beats by Dr.Dre headphone range has teamed up with an electronics manufacturer. Laptop maker HP already sells laptops with Beats audio and it is one of the main selling points. The deal with HTC will not force HP to stop selling its Beats branded devices.
HTC said, "HTC is the sole mobile phone partner and Beats will continue to operate autonomously continuing its current Beats By Dr. Dre business partnerships."
The move will set HTC's smartphones out from the crowd and make its handsets more appealing to consumers looking for the best audio quality, something that historically has been lacking on phones.
Peter Chou, CEO of HTC said, "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." µ
Plus the cost of ambition as moonshots eat into the coffers
Spoiler alert: it's probably VeriSign
Did we say cuts off? We meant traps them inside their own home