( 4UMF NEWS ) Dr. Dre Spends $150 Million:
According to the Chicago Tribune, HTC sold 25% of their shares back to Beats Electronics for $150 million.
HTC originally purchased a 50% stake in Beats Electronics for $309 million, in August 2011.
According to HTC, the sale “provides Beats with more flexibility for global expansion while maintaining HTC’s major stake and commercial exclusivity in mobile.”
HTC’s shares fell almost 4% because of the news, with investors being concerned about HTC’s strategy for the future.
Damn, they took a serious loss…