Beats Electronics buys back remaining shares from HTC, will still partner with HTC as opportunities arise
In 2011, HTC bought a 50.1% share of Beats Electronics for $300 million as it looked to differentiate itself from the competition. However, the partnership didn’t go to plan, and last year HTC sold a 25% stake back to Beats Electronics.
Now HTC has sold the rest of its stake to Beats Electronic for $265 million. While HTC has been going downhill for the past two years, Beats has expanded its product lines, and will soon begin its own music streaming service.
HTC didn’t provide an exact reason for the sale of the shares, but said that they will “continue to partner [with Beats Electronics] as future opportunities arise”. That means that those of you hoping to finally see the end of the Beats Audio label on the back of HTC products will be disappointed.