HTC Investing $300 Million in Beats ElectronicsAugust 11, 2011 No Comments
Taiwanese cell phone maker HTC is investing $300 million for a majority stake in Beats Electronics. With that type of investment it isn’t a surprise that they are working on enabling the technology in their cellphones.
I believe this is a very smart move by HTC. They are giving their devices a unique distinct personality that makes it harder on consumers to switch away from. HTCâ€™s chief executive officer Peter Chou said the Beats deal should â€œhelp create an emotional connection to HTCâ€™s brand.â€
The first HTC product with Beats technology included is due out later this year. I am really curious and hopeful that Windows Phone getsÂ a MangoÂ device with this newÂ tech.
Beats Electronics has a past deal with HP, which will remain intact even if HTC does own a majority stake. HP includes Beats technology in both its PCs and TouchPad tablet. The partnership though is said to beÂ exclusive toÂ HTC for cell phones. Beats Electronics is also behind the popular Beats by Dr. Dre line of headphone products with Monster.
Press Release – Beats Electronics
Today marks an incredible day for sound and Beats by Dr. Dre. We are announcing a partnership with HTC, one of the worldâ€™s leading wireless manufacturers. With this announcement, our two brands are coming together to redefine the smart phone category and redefine the way that sound is heard.
Over the past year, Beats by Dr. Dre has continued to evolve from a headphone company to a cultural movement that is redefining the way sound is heard. We have strived to take studio-quality music into the hands of you, our consumers, across the globe. This partnership with HTC represents the next phase of our vision, placing the utmost importance on giving smart phone fans the opportunity to hear the highest-quality of sound possible. The Beats team, still led by Dr Dre and Jimmy Iovine, will continue to manage Beats autonomously.
There will be a lot more exciting news to come and we will continue to keep you on top of all of the wonderful things happening within the Beats World. This is truly an incredible chapter for Beats and we are proud to have you with us. Letâ€™s Go!
Press Release – HTC
HTC AND BEATS BY DR. DRE SET TO INTRODUCE NEW ERA IN MOBILE AUDIO
Strategic HTC investment to result in Beats-integrated HTC phones this fall
TAOYUAN, Taiwan, and SANTA MONICA, Calif. â€” Aug. 11, 2011 â€” HTC Corp., a global designer of mobile devices, today announced a strategic partnership and investment with Beatsâ„¢ Electronics LLC., the company redefining the audio market with its iconic Beats by Dr. Dreâ„¢ audio experience. The two fast-growing brands will focus on bringing high performance sound to HTC phones.
â€œThe HTC and Beats by Dr. Dre partnership is an opportunity for two world-class companies to redefine the smartphone industry and define the future,â€ said Jimmy Iovine, chairman of Beats by Dr. Dre and chairman and CEO of Interscope Geffen A&M Records, which is a division of Universal Music Group and a stakeholder in Beats. â€œFor Beats by Dr. Dre, this represents a critical step in our continued mission to clean up the destruction of audio caused by the digital revolution and reengineer how sound is delivered, so the consumer feels the music the way that the artist intended.â€
HTC and Beats have been working together to create superior mobile audio experiences for consumers, which will result in a line of HTC devices integrated with Beats sound innovations, available this fall.
â€œBeats has found a unique way to harness popular culture in a manner that is unlike any other brand today,â€ said Peter Chou, CEO of HTC Corp. â€œItâ€™s an exciting brand that has been built around providing something very special, and we believe our strategic partnership will provide customers with unbeatable sound on HTC phones. We obsess over every detail of a consumerâ€™s mobile experience, and audio is a critical part of that experience.â€
HTC is known for unifying content, services and devices into unique mobile experiences. And Beats is known for its unique consumer brand appeal and ability to reproduce the full spectrum of sound captured in professional recording studios, allowing consumers to hear music the way the artist intended. Bringing these two great brands together will create superior mobile music and sound experiences while accelerating HTCâ€™s entry into the youth and accessories markets globally.
Beats Electronics will continue to operate autonomously â€” with Iovine as chairman and Luke Wood as president and chief operating officer â€” with its current business partnerships, including Monster Cable Products Inc., HP and Chrysler Group LLC. Iovine also will continue serving as chairman of Interscope Geffen A&M Records.
â€œOur customers have clearly responded to Beats and HTC, and Best Buy is proud to feature their products in our stores,â€ said Brian J. Dunn, CEO, Best Buy. â€œWe are committed to offering innovative and entertaining technologies that help consumers enhance their lives. Our customers expect that from us. The unique HTC Sense experience and the great sound of Beats provide prime examples of that focus.â€