On Wednesday, HTC announced a strategic investment and partnership with Beats Electronics, with the goal of bringing high-quality sound to HTC phones.
HTC did not disclose the amount of the investment, which AllThingsD pegged
at $300 million. HTC had previously announced an "major news announcement"
for Friday, scheduled for 8:30 AM in Los Angeles.
In a separate statement, however, HTC said that a "line of HTC devices integrated with Beats sound innovations would be launched this fall". Beats Electronics is most known for its "Beats by Dr. Dre" brand, with a partnership with the iconic rapper and producer.
"Beats has found a unique way to harness popular culture in a manner that is unlike any other brand today," said Peter Chou, chief executive of HTC Corp., in a statement. "It's an exciting brand that has been built around providing something very special, and we believe our strategic partnership will provide customers with unbeatable sound on HTC phones. We obsess over every detail of a consumer's mobile experience, and audio is a critical part of that experience."
Beats said in a statement that Beats will continue to run the business autonomously, maintaining its partnerships with Monster, Hewlett-Packard, and Chrysler Group. Products include the HP Envy 14 Beats Edition
, as well as the Beats Pro
and other headphones. PCMag analyst Tim Gideon described the Beats Pro's sound as "excellent—there's plenty of bass, but the high frequencies are accurately reproduced, as well."
For its part, Beats described its evolution as a "headphone company to a cultural movement that is redefining the way sound is heard".
"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," said Jimmy Iovine, chairman of Beats by Dr. Dre and chairman and chief executive of Interscope Geffen A&M Records, which is a division of Universal Music Group and a stakeholder in Beats. "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."