LG’s OLED technology is revolutionizing the TV market and Bang & Olufsen is jumping onboard. The Danish company has today announced that it will launch its first OLED TV in 2017 through a strategic partnership with LG.
First B&O OLED TV next year
Bang & Olufsen has today announced a strategic partnership with LG Electronics to ensure that it can stay ahead in the TV market with its luxury AV products. B&O says that it ”will focus on its unique competencies within design, acoustics and smart home integration within TV development, and combine this with LG’s technological leadership within OLED technology"
- “This partnership with LG will enable Bang & Olufsen to stay at the forefront of innovation in the TV category, a category which is currently undergoing significant change and which is very important to Bang & Olufsen. The partnership will address Bang & Olufsen’s key challenges related to scale and complexity”, says CEO Tue Mantoni.
The first OLED TV from Bang & Olufsen is expected to be launched in 2017, the company confirms. Further, the partnership involves “collaboration in other areas such as license and product bundle activities”.
It appears that LG as part of the strategic partnership will, to a certain degree, mass produce TVs on behalf of Bang & Olufsen. The deal is expected to result in annual savings potential of DKK 150-200 million when fully implemented over the next three years, says B&O.
Potential takeover offer
In late 2015, Bang & Olufsen announced that it had begun talks for a potential takeover. These talks are ongoing.
The company confirms that "dialogue is ongoing with one potential offeror that may or may not lead to an offer for the whole or part of the issued share capital of Bang & Olufsen".