Dr Dre sells half of his audio company for over $300 million

Rap mogul has offloaded 51 per cent of Beats Electronics to HTC

Dr Dre has sold 51 per cent of his audio company Beats Electronics to smartphone manufacturers HTC for a cool $309 million (£190 million).

Dre set the company up in 2008 with Geffen records executive Jimmy Iovine and has since launched headphones endorsed by the likes of Lady Gaga, Justin Bieber and Diddy, who each put their name to their own signature headphones.

HTC have indicated that they will look to export the technology from Beats into smartphones as soon as they can.

Dr Dre is currently putting the finishing touches to his new album, ‘Detox’, which is due out later this year.

The release will be his first since 1999’s ‘2001’ album and Dre has indicated it will be his last full album.

Two singles have been released so far, ‘Kush’ in November last year and ‘I Need A Doctor’, which featured Eminem and Skylar Grey, in February of this year. There is no confirmed tracklisting or release date as yet.