LG ENTERS STRATEGIC TECHNOLOGICAL PARTNERSHIP WITH BANG & OLUFSEN TO DEVELOP PREMIUM OLED TV
Agreement to Help Increase OLED TV’s Premium Brand Image
and Expand Market Already Dominated by LG
SEOUL, March 21, 2016 — LG Electronics (LG) today announced that the company will produce OLED TVs in partnership with Bang & Olufsen, the Danish premium consumer electronics company.
In this partnership, Bang & Olufsen will leverage its unique competencies in design and acoustics with LG’s leadership in OLED technology to jointly develop a new OLED TV expected to be sold next year under the Bang & Olufsen brand. LG’s advanced TV technology including OLED TV and its webOS smart TV platform will help Bang & Olufsen create a new premium-tier OLED TV line with high-end sound systems.
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. The partnership also involves collaborations in other areas such as possible future licenses.
# # #