Apple has recently bought Beats Electronics for a cool $3.2 billion. I’m sure everyone knows Beats by Dre, the makers of expensive (and often copied/pirated) earphones.
Besides the earphones, it remains to be seen what Apple plans to do with the brand. Some analysts are saying that its for the streaming music service, allowing Apple to launch a music streaming service. Digital music has been seeing a decline since last year, probably because of services like Spotify (which recently made its presence known in the PH).
Okay, so maybe Apple overpaid with $3.2 billion (even though they have some $160 billion in cash). I’m just speculating here, but that’s a bit much for just the brand, the hardware and the (fledgling) music service. But since this is Apple, I’m sure they know what they’re doing. All we can do now though, is wait.
As for Dr. Dre – - he could turn out to be the first billionaire rapper in history.