HTC Sells Headphone Stake At 164 m Pound

Posted by Unknown Tuesday, October 1, 2013

Smartphone manufacturer and distributor HTC has sold its stake in headphone maker Beat Electronics at $625m. This brand bought 50 per cent stake in Beats in August 2011.

The news comes as US private equity firm Carlyle Group is expected to make a $500 million (£309 million) investment in Beats, bringing its value to over $1 billion (£619 million).

HTC said:“Over the past two years, HTC and Beats have enjoyed a solid business partnership in delivering superior mobile audio experiences for consumers worldwide. HTC and Beats will continue to partner as future opportunities arise.”