Back in August we had reported that Dr. Dre, a premium audio brand, was looking to buyback the remainder 25% stake of its company owned by Taiwanese phone maker HTC, after having already buying back 25% earlier this year. That moment has finally arrived. Beats by Dr. Dre is an invididual company once again, with HTC owning 0% of the company. One of the reasons for carrying out this $265 million deal was to part ways with a company that was failing to meet sales target, and also posting red in their quarterly reports. Also, HTC is very much in need of some cash, and the $265 million received from this deal is exactly that.
Let's hope that the cash is used to make a successor to the One that sells millions and helps bring back at least a part of the company's former glory in the Smartphone space. Sadly, as this deal has come through, HTC will no longer package a Beats Audio headset in their retail boxes.