Beats end HTC partnership, $265 million share buyback


HTC-Breaks-up-with-BeatsHTC has been struggling to keep its smartphone business afloat, with profits dwindling quarter upon quarter. Even their flagship device the HTC One didn’t maintain strong sales.

As rumored the headphone maker Beats decided to buy back its remaining 25% stake it still had in HTC for a whopping $265 million. In a statement, HTC says Beats will still be an important partner, but it refused to say exactly how important the move is. The company also declined to state the reasoning behind the split and what financial impact the decision has.

Beats is rumored to be in search of another partner that has the funds to help boost its growth.

via Endadget