Beats Electronics, LLC was founded by hip-hop/rap artist Dr. Dre and Interscope-Geffen-A&M Records chairman Jimmy Iovine, which produces products under the brand, Beats by Dr. Dre. Monster was given exclusive rights under a five-year contract to produce and develop Beats-branded headphones. Last year, HTC acquired 51% majority of the stake of the company, and Monster have also decided not to renew their contract.There have been a wide range of Beats by Dr. Dre products on the market - Beats by Dr. Dre Studio High-Definition Headphones, Beats Solo HD, Beats Tour with ControlTalk and even Beats by Dr. Dre 'HeartBeats Lady Gaga' In-Ear. And in China, they can cost from 1000 yuan (US$159) and up; quite close to the standard retail price everywhere.Alas, factories in mainland China have produced their own imitations of the headphones. For those who aren't aware could purchase the Beats by Dr. Dre clone headphones with carrying case and in authentic looking box, all for just 270 yuan (US$42). No clue whether the audio performance would be similar or better than the original though.