Philips not interested in Bang & Olufsen

Philips not interested in Bang & Olufsen

Philips is allegedly not interested in a Bang & Olufsen acquisition, according to statements from a Philips spokesperson in a Danish financial paper, Borsen.

Multiple offers for Danish company

Over the past three years, Bang & Olufsen slid into an onerous position after it had misjudged the market. It held onto expensive televisions, while Asian manufacturers brought cheaper sets to the market.

 

Bang & Olufsen now wants a buyer to survive and stated last month it had already received multiple offers. Those may eventually lead to an actual bid on parts of the company or the company as a whole.

 

Apparently, Philips is not one of the interested parties, which is not that remarkable as the water between the Dutch and Danish company is relatively deep. The Danish company filed a multi-million dollar claim against Philips as it kept TV component prices artificially high between 1996 and 2006 through deals with LG, Samsung and Panasonic among others. Philips has already been condemned for those practices.

Questions or comments? Please feel free to contact the editors


Ceconomy (former Metro) mainly achieves online growth

31/08/2017

Ceconomy, the newly-formed electronics company that split off from the Metro Group, grew 1.1 % in its first independent quarter. The owner of Media Markt and Saturn saw its web shops outperform physical stores.

New owner for smartphone manufacturer HTC?

28/08/2017

Taiwanese technology company HTC may be looking for a new owner as competition is becoming stronger. The company is now looking for options to raise funds for a battle plan.

Twelve-year sentence for Samsung's vice-president?

07/08/2017

Prosecutors in the Samsung corruption case have demanded a 12-year sentence for its former vice-president and de facto CEO of the South Korean company at the time, Jay Y. Lee, who has been charged with bribery and embezzlement.

Apple sales drop smaller than expected

02/08/2017

Apple has sold more iPhones in the third quarter of its fiscal year than it did last year, which was a surprisingly more positive feat than analysts had expected. Compared to the second quarter, there was further decline though.

Ceconomy (Media Markt) acquires quarter of Fnac Darty

26/07/2017

Ceconomy, Metro Group’s former consumer electronics division containing Media Markt and Saturn, acquired 24.3 % of Fnac Darty’s shares from the Pinault family.

 Blokker adds household appliance specialist AO.nl to Nextail

21/07/2017

Blokker Holding’s online organization, Nextail, will enter a strategic collaboration with online household appliance specialist AO.nl’s Dutch division.

Back to top