Just last month, it was rumored Beats Electronics would be buying back HTC’s stake in their company, making it completely free from the smartphone manufacturer. It looks like that rumor turned out to be true as today, HTC has announced they have sold its remaining 25 percent stake in Beats Electronics for $265 million. This comes shortly after HTC had already sold back the other half of its stakes in Beats for $150 million.
It was back in 2011 when HTC acquired 50.1 percent stake in Beats Electronics as they planned to incorporate its audio technology into their line of products. That’s exactly what happened with a number of HTC’s products, although it always seemed neither HTC nor Beats were ever happy to be working with one another.
Today’s news will probably be a happy day for both companies, although we’re certainly curious to see where both companies end up after this. HTC still used Beats technology in a number of its products, such as the HTC One and HTC One Mini, while Beats most likely became a popular brand due to HTC’s marketing. Both companies certainly benefitted from working with one another, so their futures without the other will certainly be one to keep an eye on.RELATED
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- Seen at: investors.htc