HTC makes $300m investment in Dr Dre's firm

HTC prides itself on being "quietly brilliant" but things may get a bit louder after the mobile phone company secured a deal with rapper Dr Dre. HTC yesterday announced a strategic partnership with Beats Electronics, the high-end earphone manufacturer co-founded by the rap star. Peter Chou, chief executive of HTC, said: "We obsess over every detail of a consumer's mobile experience and audio is a critical part of that."

HTC said it would buy a 51 per cent stake of Beats for $309m (£191m). Jimmy Iovine, the company's other founder, will continue to run the company.

HTC said it expected to have a number of products which incorporate Beats technology on the market by the end of the year.