Headphones are a very key part of almost every young person's life in the world. There are many companies that solely make their money off of headphones. The leader of these companies is Beats By Dr. Dre, they can sell a pair of their headphones for $300. Other companies have tried to compete with them in the luxurious headphone industry but they are not nearly as successful. The main reason for this is that Beats have established a name in the industry as the best of the best.
Recently Monster cable company and Beats By Dr Dre have ended their partnership, this was mainly due to the fact that the monster cables were breaking and customers were mad that they paid so much money and their headphones were breaking. Now that Beats make their own cable, they don't have nearly as much of an issue with them breaking. Monster Cable decided that they would decide to make their own luxurious headphones. They sell theirs though for about $100 less than Beats but they still do not sell nearly as many.
Headphones are now very important to people and they want the quality of their music to be high. Skullcandy sells headphones as well but they charge as little as $10 for a pair of their headphones. They are trying to appeal to the lower class market and for the money their headphones are very good quality. If you do have enough money to spend on Beats I would definitely recommend doing so.