HTC, the Taiwanese maker of cellphones and tablets, is looking to pump up the volume on its smartphone offerings.
On Thursday, the company plans to announce a $300 million strategic investment in Beats Electronics, which makes sleek, brightly colored headphones and other audio accessories. The investment will give HTC a majority stake in Beats.
Peter Chou, the chief executive of HTC, said in an interview on Wednesday that he hoped the partnership with Beats Electronics, which has released headphones bearing the names of several big-name musicians, including Lady Gaga and the rapper Dr. Dre, would give the company greater visibility among young and hip smartphone shoppers.
“Audio is key to us right now,” said Mr. Chou. “It’s our belief that a good sound experience is key when using a mobile phone.”
Mr. Chou also said that working with Beats would help the company stand out among rivals, which include Apple, Samsung and Motorola.
From
left, Jimmy Iovine, the chief executive of Beats Entertainment; Peter
Chou, the chief executive of HTC and Dr. Dre, the rapper.
“It’s
really important that we have a unique experience,” he said. “Which
comes from both a cultural and consumer experience. We are very excited
for this opportunity.”
Jimmy Iovine, the chief executive of Beats who founded the company with Dr. Dre, is a noted music producer and chairman at Interscope Records, a unit of Universal Music Group. He said he had sought out HTC for the partnership and investment.
“The companies that are doing the best are the ones with both the hardware, software and a cultural angle,” said Mr. Iovine. “HTC was the best partner for us to function in all of these categories.”
The two men said that their companies would collaborate on both software and hardware products and expected to release their first consumer offering later this year. Other hardware makers include Beats technology in their products, as Hewlett Packard does with its tablets. But the companies said the HTC partnership, which is focused on smartphones, would not affect those deals.
“We’re still in the beginning stages,” Mr. Chao said. “We need to continue to innovate and have products that differentiate and make more of an emotional connection with the consumer.”
On Thursday, the company plans to announce a $300 million strategic investment in Beats Electronics, which makes sleek, brightly colored headphones and other audio accessories. The investment will give HTC a majority stake in Beats.
Peter Chou, the chief executive of HTC, said in an interview on Wednesday that he hoped the partnership with Beats Electronics, which has released headphones bearing the names of several big-name musicians, including Lady Gaga and the rapper Dr. Dre, would give the company greater visibility among young and hip smartphone shoppers.
“Audio is key to us right now,” said Mr. Chou. “It’s our belief that a good sound experience is key when using a mobile phone.”
Mr. Chou also said that working with Beats would help the company stand out among rivals, which include Apple, Samsung and Motorola.
Jimmy Iovine, the chief executive of Beats who founded the company with Dr. Dre, is a noted music producer and chairman at Interscope Records, a unit of Universal Music Group. He said he had sought out HTC for the partnership and investment.
“The companies that are doing the best are the ones with both the hardware, software and a cultural angle,” said Mr. Iovine. “HTC was the best partner for us to function in all of these categories.”
The two men said that their companies would collaborate on both software and hardware products and expected to release their first consumer offering later this year. Other hardware makers include Beats technology in their products, as Hewlett Packard does with its tablets. But the companies said the HTC partnership, which is focused on smartphones, would not affect those deals.
“We’re still in the beginning stages,” Mr. Chao said. “We need to continue to innovate and have products that differentiate and make more of an emotional connection with the consumer.”
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