Last year HTC purchased a 50 percent stake in Beats Audio for a reported $300 million, and yesterday we heard that Beats Audio had bought back a 25 percent stake in their company from HTC.
We were told yesterday that the reason that Beats were buying back their shares from HTC was to give Beats more flexibility for global expansion but now it would appear that there may have been other factors involved.
According to a recent report by Cnet, the reason that Beats Audio were buying back their shares is that HTC apparently did not meet all of their financial commitments to Beats.
HTC will still hold a 25 percent share in Beats Audio and continue with their exclusive relationship to use Beats Audio in their mobile devices.
Source CnetFiled Under: Technology News, Top News