Super producer and former DeathRow Records underboss Dr. Dre continues to smile all the way to the bank. Dre along with Interscope Records ruler Jimmy Iovine launched a high end music electronics company called Beats By Dre and their high end headphones have been selling out at stores world wide. Now HTC is betting $300 million that the company will continue to sell products like candy to children.
The injection of money will give HTC one of the largest stakes in Beats, but the company will remain autonomous from HTC. Beats also counts Monster Cable as an investor and will still work with other companies such as HP, providing speakers for laptops and tablets, and Chrysler, providing speakers for sedans, said Iovine, who is chairman of Beats and chief executive of Interscope records. But HTC will have some smartphones with Beats audio included in stores by the end of the year, he said.[LA Times]
