Bang & Olufsen enters partnership with LG, could save up to US$30m a year

[COPENHAGEN] Bang & Olufsen has entered a strategic technology partnership with LG Electronics on the development and production of its televisions, the Danish company said on Friday.

The partnership will help the Danish manufacturer of high-end stereos and TVs to achieve technological capabilities and scale needed to improve long-term profitibility, the company said in a stock exchange announcement.

The agreement has annual savings potential of 150-200 million Danish crowns (US$22.7-30.3 million) when fully implemented over the next three years.

REUTERS