HTC’s $300 million investment in Beats by Dre Audio presented HTC with an opportunity to brand future devices with the welcoming Beats Audio logo on the back. Now, in the face of turmoil inside the company, HTC’s CEO says the company is sticking to its commitment to the brand:
“Media speculation that ties this announcement to HTC’s partnership and investment in Beats By Dre is categorically inaccurate,” said Peter Chou, CEO of HTC Corporation. “HTC and Beats have made impressive progress in innovation and brand awareness and the integration of the Beats brand and technology in the new HTC One series is a clear indication of our commitment to this partnership.”
With the removal of CFO Winston Yung, champion of the Beats Audio investment, speculation began to ramp up over the last 36 hours that HTC might be losing faith in the deal. Combine that with HTC’s decision not to package We’re still Beats headsets with upcoming devices and you’ve got the perfect recipe for wondering just how stable the investment is. Perhaps Beats Audio isn’t in jeopardy at all and all of this just has something to do with the tough times the company is going through?