HTC Beats

Having dropped $300 million into Beats Electronics for a majority stake back in August 2010, HTC has already begun introducing Beats audio technology to its latest smartphones. But according to one rumor, the Taiwanese company has something much bigger up its sleeve: A music streaming service that could rival Spotify.

GigaOM cites sources “familiar with the company’s plans” who have revealed that HTC has a “slew of new products” on the way, including a new tablet, new smartphones, and even a new music streaming service. The company is reportedly working with Jimmy Iovine, who founded Beats with Dr. Dre, to develop a new service that will be offered as the default music client on HTC devices.

It’s unclear at this point how much the service will cost and whether it will be available to other devices, or remain exclusive to HTC hardware. However, we may find out a lot more about it later this month, with a possible unveiling at Mobile World Congress, according to the sources, alongside a new HTC tablet.

A HTC spokesperson has stated that the company does not comment on rumors and speculation, but it is believed that it has “long harbored” ambitions to offer a music streaming service of this kind. But that may not be the only new product:

The company is also working on a wireless boombox that would most likely stream music from HTC phones over Bluetooth. The company currently sells a wireless boombox that is made by Monster, till recently a partner of Beats Audio. Iovine has been very public about his desire to go after other audio products as well.

If the service does come to fruition, HTC will undoubtedly want to use it as an incentive to purchase its devices, so you can almost guarantee that it will be significantly cheaper than services like Spotify. I’m certainly looking forward to HTC’s announcements at MWC later this month.

Would you like to see a music streaming service from HTC and Beats?

[via GigaOM]