Dr. Dre’s Beats Electronics Partners with HTC in $300 Million Deal

Jimmy Iovine, Peter Chou, and Dr. Dre

Dr. Dre is coming for Jay-Z’s spot on Forbes’ Cash Kings list. In a newly announced deal, the hip-hop mogul has sold a majority stake in Beats Electronics to HTC for $309 million.

The Taiwan-based smartphone maker will acquire 51 percent of the company, which Dre co-founded with Interscope Geffen A&M Records CEO Jimmy Iovine in 2006. Beats, known for its popular Beats by Dr. Dre headphones, sells celebrity-endorsed lines by Lady Gaga, Diddy, and Justin Bieber.

“The HTC and Beats by Dr. Dre partnership is an opportunity for two world-class companies to redefine the smartphone industry and define the future,” stated Iovine. “For Beats by Dr. Dre, this represents a critical step in our continued mission to clean up the destruction of audio caused by the digital revolution and reengineer how sound is delivered, so the consumer feels the music the way that the artist intended.”

As part of the strategic partnership and investment, HTC plans to incorporate Beats technology into their phones by the end of the year. Dr. Dre and Iovine will continue to operate Beats autonomously.



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28 Comments

  1. Hugh

    HTC is going to make this a $2 billion company.

    Dre will have more money than Jay in a year or two.

    [Reply]

  2. bebe/jayfannn

    ok thn get dat money DRE ^^^^ thy both gonna hav equal no dat

    [Reply]

  3. bebe/jayfannn

    thy BOTH GONA HAV EQUAL MNY ANIT NO TEELN WHT JAY GOT PLAN NEXX HE’S A SMART BNESS MANN!#KINGPOWER

    [Reply]

  4. Bob

    Well damn

    [Reply]

  5. laura

    Wow Dre is a businessman. Goodluck!

    [Reply]

  6. My name is nt Needed

    Guess we have a NEW CASH KING, UNLUCKY JIGGA, DRE ALREADY RUINED YA

    [Reply]

  7. slick

    hell yeahhhhhhhhhhh dre cant be faded he just a nigga from the mutha fuckin streets!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    [Reply]

  8. Wally

    Pretty Dope.

    [Reply]

  9. The Truth

    The Truth is that Beats is a garbage product, which delivers mediocre quality sound for a premium price. If 50 Cent was to release two cups on a string tomorrow, and charge $400 for a set, the hip hop enthusiast teens would buy the product without questions asked because it has 50′s name attached to it.

    [Reply]

    ponyo Reply:

    @The Truth, thank u I compared it to bose product… And the quality was trash.

    [Reply]

    Oh Please Reply:

    @ponyo, Preach! Bose is definitely worth the money

    [Reply]

  10. Big Sean

    Would be nice if we got a pair of the little dre beats earphones if you bought an expensive HTC smartphone

    [Reply]

  11. 50 cent work harder

    50 cent better work harder on his sleek cause dre has been monopolizing the market for almost forever and look like he will continue until 50 do some great business move like give his ti apple if they will accept that will be the deal of the century cause apple can make people buy sand yea sand

    [Reply]

    bossplaya Reply:

    @50 cent work harder, True that…. True that, but I think 50 is on his way out. You know he’s been big and all that but his music ain’t the shit as it used to be. But sure he’s gotta work hard if he wanna get back to the scene or the business market…

    [Reply]

  12. kani k.

    Beats suck tbh..

    [Reply]

  13. Boss

    nw thts hustlin!!great deal dre…

    [Reply]

  14. i am the truest

    Beats are wack?wow,u must ave bought the bootlegged ones at 50 bucks.

    [Reply]

  15. LikeABose

    Why don’t you buy a much better pair of headphones, that have better clarity, bass,comfortability, stle, quality, and in general, sound. Get Bose headphones. Better Quality. Better Price.

    Jussayin, Don’t hate.

    [Reply]

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