The company bought its stake in Beats in 2011, but it has now decided to hand the remainder of its investment - valued at $265 million (£164 million) - back over.
© WENN / Nicolaus Czarnecki
Dr Dre with Beats Audio headphones
© PA Images / Manu Fernandez/AP
HTC stand at the Mobile World Congress
In its investor statement, HTC said: "Over the past two years, HTC and Beats have enjoyed a solid business partnership in delivering superior mobile audio experiences for consumers worldwide. HTC and Beats will continue to partner as future opportunities arise."
HTC originally sold 25% of its stake back to Beats in 2012.
Beats has also sold a stake in the company worth a reported $500m (£310 million) to private equity firm Carlyle, it was announced on Friday (September 27).
The audio firm's CEO Jimmy Iovine said in a statement that the transactions "represent the evolution of the financial strength and significant growth prospects of Beats".
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via All - Digital Spy - Entertainment and Media News
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