Article Written by : Evolutions Studio
There is a battle brewing between headphone maker Monster and rival Beats Electronics. Both are music industry behemoths. Monster is suing Beats Electronics and its co-founders Jimmy Iovine and hip hop producer Dr. Dre, and smartphone maker HTC, one time full owner of the brand. Jimmy Iovine is a well-connected music industry professional. The law suit is over last year’s sale of Beats to Apple for $3.2 billion in August 2014. This was Apple’s largest acquisition in its history. Monster claims that defendants conspired to cut Monster out of the deal before selling the company to Apple. Monster helped to start Beats Electronics according to court filings.
Beats Electronics headquartered in Culver City, California, a suburb of Los Angeles. Beats primarily focused on headphones and speakers and sell under the name Beats by Dr. Dre. Head phones are known for its signature bass sound. According to published reports Beats control more than 64 percent of the U. S. headphones market. For a brief period Taiwanese smartphone maker HTC owned the company and later reduce its ownership to 25 percent. Many criticize Beats products for higher price for headphones and lower quality compared to products from JBL and Bose Corporation.