Luxury headphone makers Monster and Beats Electronics have announced that they will be ending their relationship when their current contract runs out. Beats and Monster together have been extremely successful, and, according to researcher NPD Group, their products gained 53% of the $1 billion annual headphone market in 2011. The companies have collaborated since 2008.
But their partnership will now end, as Beats Electronics has chosen not to renew the contract for another five years. According to Businessweek’s sources, the split occurred because of disagreements about fair profit sharing.
Seen that Beats is very popular among young people, Monster is going to target athletes, women and business professionals. One $200 pair of in-ear headphones has the name of the ’70s soul act Earth, Wind & Fire. A Miles Davis line has earbuds shaped like trumpets and a volume controller that looks like a piston valve. There are also eight new lines in 50 different styles.