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HTC Buys Dr Dres Beats Electronics For $300Mil

HTC Buys Dr Dres Beats Electronics For $300Mil

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Beats By Dr Dre

HTC have purchased a majority stake of headphone maker Beats Electronics, the company founded by international superstar Dr Dre.

The stake in Beats Electronics set HTC back $300 million, and gives them a majority share in the company that offers high end headphone and speaker kit.

In a WSJ interview, HTC chief executive Peter Chou said the acquisition will help improve sound quality in his smartphones, not only for music playback, but also for videogames and movies.
“This will give us opportunity to innovate,” Mr. Chou said. “They really would like to deliver studio-like sound quality experience.”

“Beats is a unique sound experience that is much more than headphones. The Beats team knows what music quality is and we are very excited to be partnering with them.” 

“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.”

Chou also confirmed that the company will still be overseen by Dr. Dre and Jimmy Lovine, also retaining its current management team.

The deal is expected to close later this year.