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Beats Electronics reclaims 25% stake from HTC

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HTC Sensation Ice White Model
Beats Electronics has reclaimed half of HTC's stake in its business.

The phone maker paid out £191 million ($310m) for a 51% share of the company last year, but has now been left with a 25%.

Beats Electronics describes the move as a "realignment of the business agreement," giving it "more flexibility for global expansion while maintaining HTC's major stake and commercial exclusivity in mobile".

A joint statement from the two companies reads: "Over the last year, HTC and Beats have made great progress in sound innovation, product integration and brand awareness with successes like the HTC One.

"HTC and Beats will continue to work closely, including a joint global marketing campaign later this year."

HTC and Beats Electronics acquired music streaming service MOG last month, suggesting that the companies are planning to take on the likes of Spotify in the sector.

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