July 22nd, 2012, 08:00 PM
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HTC sells back part of stake in audio firm Beats
TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp has sold 25 percent of its holding in audio technology firm Beats Electronics back to Beats' founders, but said it will continue to work closely with the maker of high-end headphones and speakers. HTC bought 51 percent of Beats Electronics, which was founded by U.S. rapper and music producer Dr. Dre and Beats' current CEO Jimmy Iovine, for $309 million in August last year, a move to fend off rising competition and enhance its products and branding. ... View the Entire Article
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