HTC officially confirms its phones will be rockin' them Beats Audio this fall, inks $300 million deal
HTC teased us with a major announcement yesterday and now it's already official – the Taiwanese company will acquire 51% of Dr. Dre's Beats Audio in a $300 million deal that aims to bring high-quality sound to HTC phones. Growing competition in the industry makes it increasingly harder to differentiate and differentiation seems HTC's exact goal with this move. It is the company's fifth acquisition this year.
The deal is expected to yield a number of phones with Beats Audio coming as soon as this fall.
"This will give us opportunity to innovate," HTC's chief executive Peter Chou said. "They really would like to deliver studio-like sound quality."
US headset company Beats, founded in 2008 by music gurus Jimmy Iovene and Dr. Dre and known for its signature red cables on headsets, promises deeper bass, detail and better dynamics. It's also got the support of artists like Lady GaGa, Justin Bieber and athletes like LeBron James, which should help HTC become more popular among youths.