3 / INQ owner invests in Spotify

Hutchison Whampoa, the Hong Kong-based company that owns INQ and mobile operator 3, has recently acquired a stake in Spotify, the Web-based music streaming service which offers both paid and free content (the free content is available only is Western European countries).

According to Forbes, Li Ka-Shing, HW’s chairman, has confirmed that his company bought a stake in Spotify, although without unveiling financial details.

Reportedly, INQ’s chairman Frank Meehan will have a place on Spotify’s board, representing Hutchison Whampoa.

For the moment, it’s not clear how HW will integrate Spotify into its business. However, it’s likely that upcoming INQ phones (sold via 3) will feature Spotify access. After all, we’ve already heard that Spotify for mobiles is coming.

inq-chat-3g-messaging phone

(the recently announced INQ Chat 3G phone)

Meanwhile, Spotify is readying an iPhone app, as well as an Android app – but there’s no word yet on when exactly these will be available.

Via IDG

Author: Ilinca Nita

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