HTC Sells Stake in Beats AudioCategory: General News
Posted: July 25, 2012 07:37PM
HTC has announced that it will be selling half of its 50% stake in Beats Audio back to the audio company, returning a controlling stake to Beats. The move is described as “a realignment of their business agreement,” but both companies intend to continue to work together. As a result of the sale, HTC will receive an infusion of cash as the smartphone business struggles while Beats will have “more flexibility for global expansion.” HTC will retain exclusivity in the mobile market to Beats Audio technology.