HTC and Beats Audio to launch a music streaming service

HTC is poised to launch a Spotify-like music service, according to reports.

Reports suggest that HTC along with the creator of Beats Audio, Jimmy Iovine, will be working in close quarters to make this new service see the light of the day.

Mr. Iovine stated in an interview last year - "Getting Beats audio into HTC phones is one of the first things we're going to do...We are going to be in business with HTC and they're going to help us and were going to help them in every way they can. And you'll see Beats audio in just about every phone or tablet they want it to be in, but they know what we've built and respect the brand and will help us continue to innovate and push Beats further".

We like how HTC wants to further expand its reach in this rather new market segment. It is believed that the company will unveil the service at the Mobile World Congress later this month.

Jimmy Iovine's close involvement in this new venture makes complete sense and we'll keep a close eye on how things pan out in the coming days.

HTC struck a $300 million deal with Beats Audio last year which saw handsets like the Sensation XE and Sensation XL launch in the market.