Bang & Olufsen A/S
Bang & Olufsen A/S
07/17/2024 | Press release | Distributed by Public on 07/17/2024 00:33
Bang & Olufsen and TCL announcce long-term, global licensing partnership
Bang & Olufsen and TCL Electronics have entered into a long-term licensing partnership to bring "Audio by Bang & Olufsen" to TCL's premium and high-end TV portfolio, which will be distributed globally through TCL channels. The licensing agreement spans six years, commencing July 2024.
TCL Electronics is one of the largest consumer electronics companies in the world, and the new agreement has the potential to become one of the most impactful licensing partnerships Bang & Olufsen have entered into.
The first product, the A300 Pro NXTFRAME TV, is announced in China today and will be available by the end of July in the Chinese market. The new TV will have a soundbar and subwoofer co-engineered by Bang & Olufsen and TCL acoustic teams. In addition to Bang & Olufsen's world-renowned audio tuning and sound design, the new product will also feature BeoSonic. BeoSonic is Bang & Olufsen's proprietary digital interface, which allows customers to seamlessly customize and refine their sound experience.
Kristian Teär, CEO of Bang & Olufsen, is delighted about the new partnership and the commercial potential it holds for the company.
"This is a partnership with great global potential for both brands. We'll collaborate to bring premium sound experiences to TCL's customers and enhance the overall product experience" said Kristian Teär. "At the same time, this is further proof of our commitment to expanding our licensing partnerships business in line with our strategy and as stated in our medium-term financial ambitions."
Mr. Zhang Shaoyong, Senior Vice President of TCL Industries and CEO of TCL Electronics, adds:
"We are excited to announce the A300 Pro NXTFRAME TV. We want to continue to elevate the customer experience, and partnering with the globally recognized audio-experts from Bang & Olufsen will bring incredible sound to our TCL audio-visual portfolio."
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Jens Gamborg, VP, Sustainibility & Communications
+ 45 24 96 93 71
About Bang & Olufsen
Bang & Olufsen is a luxury audio brand founded in 1925 in Struer, Denmark, by Peter Bang and Svend Olufsen whose devotion and vision remain the foundation for the company. For nearly a century, Bang & Olufsen has been pushing the boundaries of audio technology and the company continues to sit at the forefront of acoustic innovation.
Today, every Bang & Olufsen product is still characterized by the unique combination of beautiful sound, timeless design, and unrivalled craftsmanship. The company's innovative and progressive products are sold worldwide in Bang & Olufsen stores, on bang-olufsen.com and in select retailers. The company employs approximately 1000 people and operates in more than 70 markets. Bang & Olufsen's shares are listed on NASDAQ Copenhagen A/S.
About TCL Electronics
TCL Electronics Holdings Limited (01070.HK, incorporated in the Cayman Islands with limited liability) was listed on the mainboard of the Hong Kong Stock Exchange in November 1999. It is engaged in display business, innovative business and internet business. TCL Electronics actively transforms and innovates under the strategy of "Value Led by Brand with Global Efficiency in Operations, Driven by Technology and Paramount Vitality". Focusing on the mid-to-high-end markets around the world, the Company strives to consolidate the "Intelligent IoT Ecosystem" strategy and is committed to providing users with an all-scenario smart and healthy life while developing into a world-leading smart technology company. TCL Electronics is part of the Shenzhen-Hong Kong Stock Connect program and is included in the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite MidCap & SmallCap Index and the Hang Seng Corporate Sustainability Benchmark Index. Besides, it has received Hang Seng Index's ESG rating of A for consecutive years since 2018.
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Bang & Olufsen A/S, Bang og Olufsens Allé 1, DK-7600 Struer, Company reg. no. 41257911. (c) Bang & Oulfusen 2023