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.
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