The subsidiary's product line is primarily focused on headphones and speakers. Beats' original product line was manufactured in partnership with the AV equipment company Monster Cable Products; following the end of its contract with the company, Beats took further development of its products in-house. In 2014, the company expanded into the online music market with the launch of its subscription-based streaming service, Beats Music.
In 2012 NPD Group reported that Beats' market share was 64% in the U.S for headphones priced higher than $100, and the brand was valued at US$1 billion in September 2013.[7][8]
For a period, the company was majority-owned by Taiwanese smartphone maker HTC—the company reduced its stake to 25% in 2012, and sold its remaining stake back to the company in 2013; concurrently, Carlyle Group replaced HTC as a minority shareholder, alongside Dr. Dre and Iovine, in late 2013. On August 1, 2014, Apple Inc. acquired Beats for US $3 billion in a cash and stock deal, the largest acquisition in Apple's history.