Owners of Beats buy back 25% of shares from HTC
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After a bitter break up between Monster and Beats, the company was left as a 49/51 split between the original owners of Beats and HTC, respectively. While the partnership between the two has remained solid, there have been some changes along the way such as HTC no longer bundling the physical headphone in with their phones.
Today HTC and Beats have announced a realignment of their business agreement. Beats will buy back 25% of the total shares, which will give it about 75% control over the company and leave HTC with around 25%. The deal is purported to give Beats “more flexibility for global expansion,” but will still enable HTC to hold onto its commercial exclusivity on the mobile side of things.
The two said in a joint statement,
Over the last year, HTC and Beats have made great progress in sound innovation, product integration and brand awareness with successes like the HTC One. HTC and Beats will continue to work closely, including a joint global marketing campaign later this year.
source: Engadget
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5 Comments
1. Birds posted on 21 Jul 2012, 17:03 8 1
Well Damn then.....Beats audio in a cellphone is a realitive gimmick...Then again a cell phone is the biggest gimmick of them all. lol That why we LUVZ us some Apple-y iPhone-y and Droidy goodness...
2. Jimstar posted on 21 Jul 2012, 17:53 1 0
Seems to me like the entire plan they had, if indeed they had one at all, got all borked up when beats and monster parted ways. Beats has probably got to find another hardware partner asap, because I doubt they really make much meaningful revenue without having actual hardware to sell.
3. Non_Sequitur posted on 21 Jul 2012, 18:13 2 7
Too bad the One series can't f**king multitask. I tried it out today at the store and it was REALLY bad.
4. AeroPrime posted on 21 Jul 2012, 22:21 0 4
HTC is now concentrating more to windows phone right?
5. DigitalMD posted on 22 Jul 2012, 22:34 0 0
Beats is a phony baloney gimmick anyway so who actually cares>?
