HTC halves stake in Beats

Nieuws Mobiel Wereld 23 JUL 2012
HTC halves stake in Beats
HTC is cutting its stake in the headphones maker Beats Electronics to 25 percent from 51 percent. It is selling half its stake to the other Beats shareholders in exchange for a note worth USD 150 million. HTC said the change in shareholdings "provides Beats with more flexibility for global expansion while maintaining HTC's major stake and commercial exclusivity in mobile". The companies will continue to work together and plan a joint global marketing campaign later this year. HTC acquired 51 percent in Beats, the maker of Dr Dre headphones, for USD 309 million in August 2011. The company has launched a number of smartphones incorporating the company's audio technology and Beats branding.

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Handsets, M&A buyouts & divestments

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