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.”
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.”
