HTC sells back its stake in Beats Audio for $265 million

[GPRS Internet]

The one good thing I Loved about my HTC... Grrrrrr

In mid-August, a rumor popped up in the Wall Street Journal saying Beats by Dr.Dre was looking to break its partnership with HTC, one which had been in effect since 2010. Now, reports are coming in that HTC is indeed about to sell its stake back to Beats. In 2010, HTC owned 50 percent of Beats, before selling half last year for $150 million. The remaining 25 percent has increased in price considerably since then, as the new deal will close at $265 million.

That’s quite a bump in a short space of time, and it could be evidence of a hard-fought battle between to firms keen to make the best out of a bad situation. According to the Wall Street Journal, Beats was a decent investment for HTC, having initially put down $300 million and walked away with a grand total of $415 million. However, analysts say the partnership didn’t help HTC sell phones, which was surely the point.

Read more: http://www.digitaltrends.com/mobile/...#ixzz2g6T4k0Hr

[pezz]

It didnt help them sell any better.

[oodads]

Exactly....Business is business.

[nevintech]

i better get one of em before they go extinct, btw can a htc w/beats audio rival a nokia xpress music?