HTC buys 51% in headphones maker Beats by Dr Dre

HTC has agreed to buy 51 percent of Beats Electronics, known for its Dr Dre headphones, for up to USD 309 million. Under the terms of the agreement, the two brands will focus on bringing high performance sound to HTC phones. The partnership will result in a line of HTC devices integrated with Beats sound innovations, available this autumn. HTC said the takeover will help it target a key demographic, of young people aged 18-35. Beats was started in 2009 and reported first-half revenues of USD 151 million.