HTC have announced that they are purchasing a controlling stake (51%) in Beats Electronics, the brand who manufactures well known headphones such as Beats by Dre. This has cost the smartphone manufacturer $309m.
Despite the economies decline over the past few years headphones are still showing a 24% growth each year. This increase is largely due to popularity of downloading tracks via itunes and other mobile marketplaces then listening to the tracks on your mobile device. People now realise that when they are spending their hard earned money on downloading music they want to listen to it in crystal clear quality and not through some tinny cheap headphones.
The market is worth over $680 million a year and growing fast. This might be a great piece of business by HTC in expanding their ventures and creating products that now go hand in hand with smartphones.
Looking forward to seeing what comes of this takeover.
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