Bang & Olufsen, LG join forces to produce TVs

COPENHAGEN, Denmark - Denmark's high-end electronics company Bang & Olufsen is joining forces with South Korea's LG Electronics to make televisions that make use of the latest screen technology.

Chief executive Tue Mantoni said Friday that the "strategic technology partnership" with the world's second-largest TV maker will allow his company "to stay at the forefront of innovation."

No financial details were disclosed but the hope is that a new television with an organic light-emitting diode screen will emerge in 2017.

Mantoni told the AP that the partnership with LG will allow B&O "to focus on core competencies within acoustics and design" and "to improve the long-term profitability of the company."

Friday's news follows November's revelation from B&O that it was in talks with an unidentified buyer following three years of losses.