UPDATE: Apple (AAPL) Plans to Shutter Beats Music
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(Updated - September 22, 2014 4:52 PM EDT)
(Updated - September 22, 2014 4:43 PM EDT)
Apple (Nasdaq: AAPL) plans to shut Beats music streaming just months following its multibillion dollar acquisition.
TechCrunch reported that a slew of Beats Music engineers have been moved to different areas within Apple, according iTunes.
Notably, Apple didn't preload a Beats Music app with the iPhone 6/6+ and nothing was mentioned about the segment during the company's much-hyped September event a few weeks back.
Prior speculation had Apple simply wanting to make an 'acqui-hire' with Beats -- notably, to get Jimmy Iovine and Dr. Dre on board -- while also keeping the headphones unit alive. With iTunes running as strong as ever, it doesn't make sense for Apple to have fragmentation in the segment.
UPDATE - 9to5mac believes the rumors are false. The following was posted to Twitter on Monday afternoon:
Apple: "Not true" “@9to5mac: Apple is reportedly shutting down its Beats Music streaming service http://t.co/yImmEvsx1T”
— 9to5Mac (@9to5mac) September 22, 2014
Also, Re/code is saying the same thing, citing an Apple PR rep.
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