HTC buy $300 mil stake in Dr. Dre headphones

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TAIPEI, Taiwan (AP) – Taiwanese smartphone maker HTC Corp. says it will pay about $300 million for a 51 percent stake in the U.S. maker of Dr. Dre headphones.

HTC said Thursday its alliance with Dr. Dre’s Beats Electronics LLC will provide a “flawless listening experience for our customers.”

The high profile music producer founded Beats Electronics in 2006. The company’s headphones cost as much as $600.

The Taiwanese company’s acquisition is likely aimed at improving its brand profile and securing a bigger global market share of the high-end smartphone market.

HTC is a leading handset manufacturer that is best known for its Android-based smartphones.

Copyright 2011 The Associated Press.