HTC's Beats headphones in MOG Acquisition Talks
News of the possible acquisition was earlier reported by Business Insider Beats headphones.
MOG Chief Executive David Hyman declined to comment. HTC dismissed earlier reports as rumor and speculation.
Last August, HTC announced it was paying $300 million for a 51 percent stake in Beats Electronics LLC, a company headed by rapper and producer Dr. Dre and recording executive Jimmy Iovine.
The maker of handsets that work on Google Inc.'s Android platform has been struggling with intense competition from Samsung Electronics Co. and iPhone maker Apple Inc. HTC said its profit fell 26 percent in the final quarter of last year.
MOG has also struggled to gain subscribers in the face of established music subscription service Rhapsody and Sweden's Spotify. MOG's paying subscribers are estimated to be in the tens of thousands compared to more than a million for Rhapsody in the U.S. and 3 million for Spotify worldwide.
Each service offers unlimited music streaming Beats headphones
MOG was founded in 2005 and counts Universal Music Group and Sony Music among its investors. Along with its subscription music plan, the company operates a series of music blog sites that attract more than 60 million visitors a month.
BEATS BY DR. DRE HEADPHONES CLONE SELLING AT US$42 IN CHINA
Reported by Siang Liang on Friday, March 23 2012 3:53 pm
It is quite common to see people wearing the stylish Beats headphones on the streets or in the subway Beats headphones these days, as the popular headphones claim superb audio quality for music listening. It seems that in mainland China, which is well-known for producing counterfeits, has create knock-offs of the audio product and selling at just US$42.
BEATS HEADPHONES, LLC WAS FOUNDED BY HIP-HOP/RAP ARTIST DR. DRE
and Interscope-Geffen-A&M Records chairman Jimmy Iovine, which produces products under the brand, Beats by Dr. Dre. Monster was given exclusive rights under a five-year contract to produce and develop Beats-branded headphones. Last year, HTC acquired 51% majority of the stake of the company, and Monster have also decided not to renew their contract.