Beats By Dre And Monster Will Part Ways
Dr. Dre and Jimmy Iovine both own Beats By Dre and has decided to not renew their contract with manufacture Monster. Monster has manufactured the high end headphone line for Beats By Dre since 2009. At the Consumer Electronic Summit (CES), the split was made public and both sides tried to keep things cool but that didn’t last long. The reason for the split has now gone public from anonymous sources close to the situation. Both parties wanted to take credit for the success of the headphone and thus wanted more money. Beats By Dre contract with Monster will be up later this year. Currently Monster is already has eight types of headphones that will be used to compete with Beats By Dre.
Monster Chief Executive Noel Lee,
So last year Lee asked nearly half his 650 employees to come up with Monster-branded headphones. “We’re competing with ourselves,” Lee says of the Beats products he’s trying to outdo. “We can be the Apple (AAPL) of the headphones space, with or without Beats.”