Asia Express - Mobile Communications
HTC to Spend US$300 Million on Obtaining 51% Shares of Beats Electronics
August 12, 2011

HTC plans to acquire 51% stake in headphone maker Beats Electronics LLC for US$300 million, according to an August 11, 2011 report by Bloomberg. Through the acquisition of Beats Electronics, HTC aims to improve the sound quality of its mobile phone products for music, movies, and video games. The purchase is expected to help HTC to increase its accessory product offerings in the Smartphone market. The deal is projected to be closed later this year.