HTC after iPhone Market with $300M Investment in Beats by Dr. Dre
HTC, one of the fastest-growing companies in the mobile sector, revealed plans to release eight new handsets later this year. And with their recent $300 million investment on Beats Electronics, the joint venture between Dre and Interscope chief Jimmy Iovine that makes the popular Beats By Dre headphone line, their soon to be released devices may just become, literally, music to consumers’ ears.
Beats Electronics’ aim is to deliver music to listeners the way the artists and producers intend it to be, and with everyone today expecting smartphones to encompass their media offerings, it’s understandable why HTC would want to make an appeal around enhancing the personal cloud experience. Yet another way in which HTC is going after Apple market share, considering the iPhone has become the quintessential nexus of one’s mobile media hub and voice calls.
“With the magic of mobile devices, it is easier than ever to discover and buy new music,” he said. “However, without great sound experience it is a shame,” said HTC CEO Peter Chou.
“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. 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,” said Iovine.
Beats will still function autonomously, despite the major investment by HTC, as it will continue business partnerships with Monster, Hewlett-Packard, and Chrysler Group.
This partnership with Beats will set HTC apart from other Android devices as they set their focus on the consumers’ love for music. Everybody loves music and when one appeals to that, you bet your ass sales will skyrocket. Remember the iPod hype? Everyone wanted one. And if HTC could deliver a mobile phone that delivers excellent sound because of Beats, I’m sure there’s a broad enough market to make this a study in consumer desires. Nothing beats Beats.
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