December 10, 2016 11:06 PM ET

Household Durables

Company Overview of Beats Electronics LLC

Company Overview

Beats Electronics LLC manufactures and markets consumer headphones, earphones, and speakers. The company offers wireless, noise canceling, on ear, and over ear headphones; wireless earphones; and accessories, including audio cables. It also provides service and warranty support through Apple retail stores or Apple authorized service providers. The company offers its products through authorized retailers. It serves music lovers worldwide. The company was founded in 2008 and is headquartered in Santa Monica, California. As of July 31, 2014, Beats Electronics LLC operates as a subsidiary of Apple Inc.

1601 Cloverfield Boulevard

Suite 5000N

Santa Monica, CA 90404

United States

Founded in 2008

Phone:

424-231-2995

Key Executives for Beats Electronics LLC

Co-Founder and Chief Executive Officer
Age: 63
President and Director
Co-Founder and Director
Age: 51
Chief Operating Officer
Chief Creative Officer
Compensation as of Fiscal Year 2016.

Beats Electronics LLC Key Developments

New Premium Wireless, Bluetooth Earphones from Beats by Dr. Dre

Beats by Dr. Dre announced a host of exceptional new wireless products, expanding the brand’s premium portfolio to include a new line of wireless earphones called BeatsX along with the next generation of two current best-sellers with the introduction of Powerbeats3 Wireless earphones and Beats Solo3 Wireless headphones. As a collection, these new products include the Apple W1 chip, Class 1 Bluetooth, Fast Fuel charge and the premium sound fans around the world have come to expect from Beats products. Beats was co-founded by Dr. Dre and Jimmy Iovine and is part of Apple.

Beats Electronics Wins in Case Alleging Double Dealing Before Apple Sale

A judge has dismissed the key claims in a lawsuit alleging that Beats Electronics duped one of its early partners before negotiating its $3 billion sale to Apple two years ago. The summary judgment issued late August 29, 2016, by Los Angeles Superior Court Judge William Fahey resolves the heart of a case that accused Beats co-founders Dr. Dre and Jimmy Iovine of double-crossing former partner Noel Lee, founder of video and audio cable maker Monster LLC. The allegations, made in a lawsuit filed last year, had been scheduled to go to trial next week. Now the trial will be limited to Beats' effort to force Monster to pay its attorney fees and other costs. Lee once held a 5% stake in Beats as part of a partnership between the headphone maker and Monster that ended in 2012. The lawsuit alleged Dre, a former rap singer whose real name is Andre Young, and Iovine, a former record producer, orchestrated a "sham" deal with smartphone maker HTC in 2011 that led to the termination of the Monster alliance. The lawsuit had alleged Beats' misrepresentations had caused Lee to sell his remaining 1.25% stake for $5.5 million in 2013. That would have been worth more than $30 million had he owned it at the time of Beat's sale to Apple Inc. Lee's original stake would have landed him roughly $150 million.

Beach Road Music LLC Files Class Action against Apple, Inc., Beats Electronics LLC, Sony Computer Entertainment America, LLC, Sony Entertainment Network International LLC, Rdio Inc., and Escape Media Group, Inc. on Behalf of Uncompensated Owners of Pre-1972 Recordings

Hausfeld announced that lawsuits have been filed on behalf of Beach Road Music LLC in the United States District Court for the Northern District of California against Apple, Inc., Beats Electronics LLC, Sony Computer Entertainment America, LLC, Sony Entertainment Network International LLC, Rdio Inc., and Escape Media Group, Inc. and its two owners (who operate Grooveshark) on behalf of owners of musical performances that were recorded prior to February 15, 1972. The lawsuits seek to recover royalties and licensing fees from the defendants, who are profiting by operating services that stream pre-1972 recordings without obtaining a license or permission from the recordings' owners. The respective complaints allege that: the plaintiff and proposed class members are legal owners of a library of pre-1972 recordings; the various defendants have been streaming to their consumers in the states of California, Florida, and New York pre-1972 recordings belonging to the plaintiff and proposed class members; the various defendants have not obtained permission from the plaintiff and class members to stream their pre-1972 recordings; the various defendants have not paid royalties or licensing fees to the plaintiff and proposed class members for the use of their pre-1972 recordings; the various defendants have been profiting from the unauthorized use of such recordings; and as a result of the forgoing, the various defendants have violated plaintiff's and proposed class members' exclusive ownership rights in their pre-1972 recordings.

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