Multiple reports claim Apple may buy Beats Electronics for $3.2 billion. The company is best known for its premium headphones, but also recently launched a subscription music streaming service.
If consummated, Apple’s purchase of Beats could represent the company’s largest acquisition ever. Apple and Beats declined to comment on the report.
Music mogul Jimmy Iovine and producer-rapper Dr. Dre co-founded Beats Electronics seven years ago and launched the high-end headphones craze.
However, Apple already has its own iTunes store which is the world’s largest music download service. It also launched iTunes Radio last year.
That has made some industry watchers question the move. This is really puzzling.