Olufsen & OLED and LG Electronics Co developed Bang TV

Denmark consumer electronics product company Bang & Olufsen plans with the world's largest television producer and a leading OLED and network operating system technology company LG signed a strategic technology partnership agreement.
According to the agreement, Olufsen & Bang will focus on the development of its combination with the television design, acoustics and smart home core competitiveness, and with the LG in the OLED aspects of the professional and technical combination.
Bang & Olufsen CEO Mantoni Tue said: the partnership with LG will promote the Bang & Olufsen to go to the forefront of innovation in the TV type. TV variety is currently undergoing major changes, the Bang & Olufsen is also very important. This partnership will help Olufsen & Bang to respond to the challenges associated with scale and complexity."
As Bang & Olufsen will achieve the required technical capabilities and scale of the long-term profitability of the company, the establishment of a partnership will help to resolve a major strategic challenge. This cooperation has prompted Bang & Olufsen to focus on the core competencies of acoustics and design, and further optimize the company's supply chain, development, production and service.
In partnership with Bang Olufsen & LG production of the first OLED TV is expected to launch in 2017. Partnership also includes licensing and product bundling activities, and other aspects of cooperation.
After establishing partnership, Olufsen & Bang is expected to increase gross profit and reduce the cost of production capacity. After the signing of the agreement, the next three years to save 1500-2000 million Danish crown.
In addition, Bang & Olufsen is also expected to achieve restructuring costs 1000-1500 million Danish crown, of which the 5 million Danish crown will be achieved in the fourth quarter of 2016.
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