It seems Beats will no longer be bundled in future versions of the HTC One, as the audio expert frees itself from the Taiwanese phone maker.
NASDAQ reports, “Taiwanese smartphone maker HTC Corp. (2498.TW) said Friday it agreed to sell its remaining 24.84% stake in Beats Electronics LLC back to the U.S. headphone maker for US$265 million.”
It adds, “The moves come as the founders of Beats Electronics LLC–music mogul Jimmy Iovine and American hip-hop producer and artist Andre Young, better known as Dr. Dre–are broadening the company’s business from headphones to include speakers, audio systems in cars and consumer electronics and a soon-to-be-launched online streaming music service.
“It also comes only a couple of months after the company shelved a separate deal that would have raised hundreds of millions of dollars in cash for acquisitions and investments, as well as allowing the founders to be paid a dividend without giving up their controlling interest in Beats Electronics.”
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