Taiwanese manufacturer has HTC has sold back half of its 50% stake in Beats Audio, according to reports.
The information comes via Mobile News who report that the Dr Dre-founded Beats Audio has paid the an estimated £97m to buy back 25% of HTC’s share in the company. The sale comes less than one year after HTC paid almost £190m for its stake in Beats.
HTC’s shares have fallen by 3.8% following the news, with investors questioning what the sale meant for the company’s long term strategy.
According to a statement from the smartphone manufacturer, it and Beats Audio will continue to work closely together with a joint global marketing campaign being launched later this year.
The souring of the relationship between the two companies has been on the cards for some time, with HTC ending its practice of bundling Beats headphones with a number of its devices earlier this year.
With the increased dominance of Samsung and Apple in the smartphone marketplace, the next 12 months look to be crucial for the future of HTC as it attempts to refine and adapt its positioning in an increasingly tough market.