LG Electronics joined hands with a global audio producer Bang & Olufsen, the Danish premium consumer electronics company.
In this partnership, LG Electronics will supply OLED TVs to Bang & Olufsen over the next five years from 2017 to 2021. Bang & Olufsen plans to release a speaker package model through LG's OLED TV and its webOS smart TV platform.
Bang & Olufsen's OLED TV plans complement LG's mass-premium branding strategy and will help to expand the OLED TV category created by LG.
Tue Mantoni, CEO of Bang & Olufsen, said, “We will strengthen technological capabilities from a long-term perspective and have a leadership position in the TV area through the partnership with LG Electronics.”
Industry experts said, “The cooperation between LG Electronics and Bang & Olufsen is expanding from smartphones toward TVs. LG is forming an OLED ecosystem by attracting global companies.”
