Dr Dre sells stake in company for $300m

Hip-hop superproducer Dr Dre has sold more than half of his audio company for $300m (€209.8m).

The rap icon established Beats Electronics in 2008 and has had huge success with the line of Beats By Dre headphones.

Taiwanese telephone maker HTC, which bought a 51% stake in the company, is aiming to further improve sound quality for Beats Electronics products.

Dr Dre has collaborated with superstars Lady Gaga, Justin Bieber and Sean 'Diddy' Combs on their own audio ranges.