Bang & Olufsen and LG Electronics have joined hands for a strategic technology partnership. This unison would work towards the development and production of its televisions, as revealed by the Danish company on Friday to The Economic Times.
In a stock exchange announcement, Bang & Olufsen mentioned that this association will help them in manufacturing high-end stereos and TVs, by which they would improve their technological capabilities. This would further raise the scale required for a long-term profit.
This agreement, after full implementation is expected to have annual savings of around 150-200 million Danish crowns ($22.7-30.3 million) in the next three years.