[THE INVESTOR] LG Electronics announced on Aug. 30 that its partnership with Bang & Olufsen to supply the company’s organic light-emitting diode televisions to the Danish audio system maker.
Under the partnership, LG will start supplying OLED TVs to B&O from September. The audio company will add its sound technologies to the TVs to maximize their sound combined with their OLED displays’ ultimate color representation.
The Danish firm will present the LG OLED TV applied with B&O sound technologies at the upcoming IFA 2017 that kicks off Friday for consumers around the world.
According to LG, B&O chose the LG OLED TV as its OLED display is known to provide the highest definition so far and it is recognized as the most premium TV.
Although it takes high costs and cutting-edge technology to produce OLED panels, more TV makers are switching from liquid-crystal display TVs to OLED TVs to seek stability in their profits.
Thirteen TV companies, up from eight last year, are expected to boast OLED TV products this year at the IFA, according to LG.
LG’s OLED TV business drove the first-half operating profit of the division to the largest this year. OLED TVs account for a mere 3 percent of LG’s total TV sales volume, but they make up 15 percent of the company’s sales value.
Through the partnership with B&O, LG aims to expand and strengthen its position in the OLED TV market. Europe is the biggest market for OLED TVs, taking up about 40 percent of the company’s sales.
By Song Su-hyun/The Korea Herald (email@example.com)