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HTC invests in Beats Eletronics, HTC by Dr. Dre Phones on the Way

HTC puts $300 million into Beats Electronics, maker of Beats by Dr. Dre headphones.

Aug 11 2011, 7:08am CDT | by

HTC invests in Beats Eletronics, HTC by Dr. Dre Phones on the Way
 
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HTC today announced a strategic partnership and investment with Beats Electronics LLC., the company redefining the audio market with its iconic Beats by Dr. Dre audio experience. The two fast-growing brands will focus on bringing high performance sound to HTC phones.

"The HTC and Beats by Dr. Dre partnership is an opportunity for two world-class companies to redefine the smartphone industry and define the future," said Jimmy Iovine, chairman of Beats by Dr. Dre and chairman and CEO of Interscope Geffen A&M Records, which is a division of Universal Music Group and a stakeholder in Beats. "For Beats by Dr. Dre, this represents a critical step in our continued mission to clean up the destruction of audio caused by the digital revolution and reengineer how sound is delivered, so the consumer feels the music the way that the artist intended."

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.

"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 Corp. "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."

According to AllThingsD the investment by HTC is with $300 million quite substantial.

Beats Electronics will continue to operate autonomously — with Iovine as chairman and Luke Wood as president and chief operating officer — with its current business partnerships, including Monster Cable Products Inc., HP and Chrysler Group LLC. Iovine also will continue serving as chairman of Interscope Geffen A&M Records.

This is maybe a good move by HTC, but will not turn them suddenly into a bigger player. The new HTC phones with Beats appeal will still not proof themselves on the market.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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