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Manufacturer headphones Monster Beats accused of stealing technology
The company blamed the Monster Beats headphones US manufacturer of stealing technology. According to the lawsuit, the actions of competitors Monster received a multimillion-dollar damage.
According to the case file, in late 2008, Monster Cable has received exclusive rights on a 5 year contract for the manufacture and development of the first products Beats. Already in early 2012 it became known that the company will not renew the contract and end the partnership. As a result, Beats took production into their own hands. At the same time, according to the lawsuit, the founders Beats Jimmy Ayovin and Dr. Dre borrowed knowledge about the device headphones Monster for the products of its own design. In Monster believe that the company is entitled to receive royalties of 5% sales Beats.
To claim in addition to representatives involved Beats HTC, which in August 2010 acquired a 50.1% stake in Beats for $ 309 million. The purchase was intended to compete with other manufacturers of phones and association with music brand, as it provided the acquisition of HTC exclusive rights to produce smartphones with the brand Beats. In July 2012, the Taiwanese company has sold back half its stake in Beats for $ 150 million.
Recall that in May last year, Apple announced an agreement to buy Beats Electronics and streaming music service Beats Music, working on a subscription. The total value of the transaction amounted to $ 3 billion, of which $ 2.6 billion Californian giant paid in cash and the remaining $ 400 million – in the form of shares vesting on them for years to come.
Beats headphones produces under its own brand since 2008. Monster company after the completion of the partnership with Beats began to exist as a separate brand and focus on the production of premium headphones.
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