HTC Invests $300 million In Beats By Dr. Dre
Dr. Dre has inked yet another deal that will continue to take attention away from him ever releasing his Detox album.
According to reports, smartphone company HTC is investing $300 million into Dr. Dre and record producer Jimmy Iovine’s Beats By Dre.
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.
“Getting Beats audio into HTC phones is one of the first things we’re going to do,” Iovine said in an interview.
“We are going to be in business with HTC and they’re going to help us and were going to help them in every way they can.
“And you’ll see Beats audio in just about every phone or tablet they want it to be in, but they know what we’ve built and respect the brand and will help us continue to innovate and push Beats further.”
With it’s new investor, expect Beats By Dre to continue in its quest to be the leader in quality headphone and audio equipment, and in the process, make Dr. Dre even more richer than he already is…which basically means Detox is never coming out (as if it ever really was).