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.
The two companies partnered earlier this year at MWC 2016, where they unveiled the LG G5 and its Friends - with the introduction of the Hi-Fi Plus with B&O Play module. The module enhances the audio experience on the LG G5. It supports 32-bit, and 384KHz high-definition audio playback.
The Hi-Fi Plus with B&O Play, the company says can also be used either as a module with the LG G5, or as a separate Hi-Fi DAC when connecting to a smartphone or PC.
Written with inputs from AP