:Bang & Olufsen

{{short description|Danish audio-visual products company}}

{{Infobox company

| name = Bang & Olufsen A/S

| logo = Bang and Olufsen logo.svg

| logo_size = 250px

| type = Public

| traded_as = {{nowrap|{{OMX|CSE3202|BO B}}}}

| foundation = {{Start date and age|1925}}

| founder = {{ubl|Peter Bang|Svend Olufsen}}

| location = Struer, Denmark

| num_locations = 70 countries (2023)

| key_people = {{ubl|Kristian Teär (CEO) |Juha Christensen (Chairman)}}

| num_employees = 1000 (2023)

| products = High-end audio

| services =

| slogan =

| revenue = {{nowrap|{{decrease}} {{DKK|2.59 billion|link=yes}} (2023)}}

| operating_income = {{nowrap|{{increase}} {{DKK|61 million|link=yes}} (2023)}}

| net_income = {{nowrap|{{decrease}} {{DKK|-17 million|link=yes}} (2023)}}

| aum = {{nowrap|{{decrease}} {{DKK|1.43 billion|link=yes}} (2023)}}

| assets = {{nowrap|{{decrease}} {{DKK|2.3 billion|link=yes}} (2023)}}

| equity = {{nowrap|{{decrease}} {{DKK| 956 million|link=yes}} (2023)}}

| homepage = {{URL|https://www.bang-olufsen.com}}

| footnotes = {{cite web |url=https://investor.bang-olufsen.com/financial-information/ |website=www.bang-olufsen.com |title=Financial Information}}

{{cite web |url=https://investor.bang-olufsen.com/static-files/0f652437-b109-45b1-b686-a75bfaeb0c6e |website=www.bang-olufsen.com |title=Annual Report 2023/24}}{{cite web |url=https://ml-eu.globenewswire.com/Resource/Download/cfecf213-aed8-4546-9226-b985e1b11cf6 |website=ml-eu.globenewswire.com |title=Annual Report 2020/21: 01 June 2020 – 31 May 2021}}

}}

Bang & Olufsen (B&O) is a Danish high-end consumer electronics company that designs and manufactures audio products, television sets, and telephones, originally from Denmark, founded in 1925 by Peter Bang and Svend Olufsen, who designed a radio to work with alternating current, a product of significance at a time when most radios were still running on batteries.

History

=Early history=

File:B&O fabriken 1938.jpg 1938.]]

File:Bang Olufsen Beovision TV Avant mx5000 Austin Calhoon Photograph.jpg

File:Bang Olufsen Beocom 1401 Telephone Austin Calhoon Photograph.jpg 1401 telephone]]

Peter Bang (1900–1957), son of Camillo Bang, a successful Danish businessman, showed great interest in radio technology from an early age. After graduating as an engineer in 1924, he spent six months working in a radio factory in the USA. When he returned to Denmark, he collaborated with his friend Svend Olufsen (1897–1949), whose parents made the attic of their manor house in Struer in Jutland available for experiments. When they officially opened their business in 1925, Bang focused on the technology while Olufsen was dealing with business. There were a number of successful developments in the 1930s and 1940s, including a sound recording system for the film industry, roof-mounted loudspeakers for circuses and army vehicles, and the iconic Beolit 39 radio that featured a Bakelite cabinet. File:Beolit 39 radio 1939.jpg]]

However, it was many years before their business became significantly profitable. The firm suffered a major setback towards the end of World War II when its factory at {{ill|Gimsing|da|Gimsing Kommune}} was burnt down by pro-Nazi saboteurs as a punishment for the management's refusal to team up with the Germans. Undeterred, Bang and Olufsen rebuilt the factory, and they produced electric razors until 1955, and then moving on to develop a range of radio, radiogram, and television sets, that was influenced later by a designer named Ib Fabiansen who began work for the company in 1957."The true story behind Bang and Olufsen", William Schwark, Scanorama, November 2007

In the 1990s, B&O opened its dedicated stores, selling directly to customers but not selling through retailers, and the production of audio separates was discontinued in favor of mini-type audio systems sold, as was before for B&O, at a price that was higher than the industry average.

=Recent history=

Because of the economic crisis of 2008 the company experienced a sharp decline in sales and announced significant losses; between 2008 and 2009, annual revenue declined from $853 million to $528 million, and its stock price dropped from $52 to $8.50.{{cite magazine|last1=Walker|first1=Rob|title=Can the Cult of Bang & Olufsen Last?|url=https://www.wired.com/2011/09/ff_bando/all/|magazine=Wired|date=September 27, 2011}} A restructuring plan included 300 layoffs in Denmark on 21 October 2008, and the abandonment of development of new mobile phones, MP3 players, and standalone systems like DVD2 and HDR2. Instead, the company focused on its traditional strengths: high-quality audio and video products as well as sound systems for the automotive industry.[http://www.bang-olufsen.com/page.asp?id=613 Bang & Olufsen rolls out strategy plan] {{Webarchive|url=https://web.archive.org/web/20081116095049/http://www.bang-olufsen.com/page.asp?id=613 |date=2008-11-16 }} bang-olufsen.com B&O returned to profitability in 2010.

In January 2015, B&O revealed that the firm would consider bid approaches from competitors due to a profit warning issued at the end of 2014.[https://www.reuters.com/article/us-bang-olufsen-m-a-idUSKBN0KE13620150105 "Denmark's Bang & Olufsen would listen to bid approaches"], Reuters, 5 January 2015

In March 2015, HP Inc. announced that B&O would become the company's new premium audio partner for its computers and other devices after Beats takeover by Apple.{{cite web|title=HP makes Bang & Olufsen its new audio partner|url=http://www.cnet.com/news/hp-makes-bang-olufsen-its-new-audio-partner/|access-date=21 February 2016|website=CNET}}

In May 2015, Harman International announced the completion of its acquisition of Bang & Olufsen's car audio business.{{cite web|title=HARMAN Completes Acquisition of Bang & Olufsen's Automotive Audio Business|url=https://news.harman.com/releases/harman-completes-acquisition-of-bang-olufsens-automotive-audio-business|access-date=2019-02-24|website=HARMAN Newsroom}}

In March 2017, Tymphany, an audio ODM based in Hong Kong and with manufacturing operations in Dongchen, announced the acquisition of the engineering and manufacturing operation in the Czech Republic from Bang & Olufsen.{{cite web|title=B & O Sells Czech Factory to Tymphany|url=https://www.psaudio.com/article/b-o-sells-czech-factory-to-tymphany/|access-date=2019-02-24|language=en-US}}{{cite web|title=Global Operations|url=https://www.tymphany.com/who-we-are/global-operations/|access-date=2019-02-24|website=Tymphany|language=en-US}}

In Aug 2017, LG announced that B&O would become the company's new premium audio partner for its mobile devices.

In January 2020, Bang & Olufsen A/S reported its third consecutive quarterly loss as the Danish hi-fi maker struggled with a buildup of inventory after consumers balked at buying $500 headphones.{{Cite web|date=2020-01-14|title=Bang & Olufsen Struggles to Sell $15,000 TV Sets|url=https://www.bloomberg.com/news/articles/2020-01-14/hifi-maker-bang-olufsen-extends-losses-as-inventory-builds-up|access-date=2020-01-16|website=Bloomberg.com}}

In 2023, Bang & Olufsen delivered a record-high gross margin and an improved EBIT margin for 2023/24 despite a decline in revenue. Group revenue was DKK 2,588m, 5% down year-on-year.

Operations and products

Despite its decision to suspend the manufacture of separate components, B&O continues to develop and market loudspeakers. Its flagship speaker, the BeoLab 5, uses digital signal processing to adjust its frequency response to the room and location in which it is placed. Its midrange and treble drivers use the audio lens technology developed by Sausalito Audio's Manny LaCarrubba to spread the sound over a 180-degree range in order to fill the room, overcoming the directional range limitations of normal midrange and treble drivers, and preventing the sound from reflecting off the ceiling and floor before reaching the listener. B&O later acquired the audio lens technology in 2007.

In 2003, B&O entered into an agreement with Audi to provide an advanced sound system{{cite news|url=http://ing.dk/artikel/seks-ud-af-ti-nye-audier-fodes-med-bo-anlaeg-74135| title=Seks ud af ti nye Audier fødes med B&O-anlæg |trans-title=Six out of ten new Audis are born with Bang & Olufsen system|last=Holt|first=Julie Ring-Hansen|date=25 October 2006|access-date=6 November 2014|publisher=Mediehuset Ingeniøren A/S|language=da}} and in 2005 a sound system based on the BeoLab 5 with 1000 W amplifiers became available to Audi's flagship model, the A8.{{cite news|url=http://ing.dk/artikel/audi-med-indbygget-koncertsal-fra-bo-62966 |title=Audi med indbygget koncertsal fra B&O|trans-title=Audi with built in concert hall from B&O |last=Krøyer|first=Kent|date=13 March 2005|access-date=6 November 2014|publisher=Mediehuset Ingeniøren A/S|language=da}} Audi markets this sound system using the Bang & Olufsen brand name. A unique feature of this sound system is its motorized tweeters that emerge from the dashboard when the sound system is turned on.File:Audi A8 2013 (11209860996crop).jpg]]

Audi also extended the optional advanced sound system to their A4, A5, A6, A7, A8, Q5, Q7, TT and R8 models. It is a US$6,300 option on the A8/Q7.{{cite web|url=http://www.audiusa.com/us/brand/en/tools/advice/glossary/bang___olufsen.browser.html|title=Audi Glossary|access-date=11 November 2011|url-status=dead|archive-url=https://web.archive.org/web/20111106101319/http://www.audiusa.com/us/brand/en/tools/advice/glossary/bang___olufsen.browser.html|archive-date=6 November 2011}} B&O also supplies sound systems for higher-end, premium vehicles such as the Aston Martin DBS, Rapide, BMW 5 Series, BMW 5 Series Gran Turismo, BMW 6 Series, BMW M6, BMW's flagship 7 Series, BMW X5,{{cite web |url=http://www.bang-olufsen.com/en-US/car-audio/car-models/bmw |title=BMW - Bang & Olufsen |access-date=2013-04-21 |url-status=dead |archive-url=https://web.archive.org/web/20130424055158/http://www.bang-olufsen.com/en-US/car-audio/car-models/bmw |archive-date=2013-04-24 }} Mercedes-Benz with their Mercedes-AMG models.[http://www.mercedes-amg.com/#/amg-s-class Mercedes AMG S-class]"mercedes-amg.com Genesis with their GV60 and G90 high-end models of vehicles{{Cite web |title= Genesis {{!}} Bang and Olufsen Automotive |url=https://corporate.bang-olufsen.com/en/partners/automotive/genesis |access-date =2023-12-12 |website=corporate.bang-olufsen.com/en/partners/automotive/genesis}} and also Ford vehicles can be equipped with B&O PLAY sound systems in their high-end models of vehicles.{{Cite web |title= Ford {{!}} Bang & Olufsen Automotive

|url=https://corporate.bang-olufsen.com/en/partners/automotive/ford |access-date =2023-12-12 |website=corporate.bang-olufsen.com/en/partners/automotive/ford}}

In addition to consumer products the company also produces business-to-business services, particularly in the area of custom audio-visual installations for car manufacturers, and the hospitality industry. Additionally the company's expertise in aluminium manufacturing is available to other businesses for the production of non-B&O products.[http://www.bang-olufsen.com/professionals Bang & Olufsen - Business to Business] {{Webarchive|url=https://web.archive.org/web/20120512185200/http://www.bang-olufsen.com/professionals |date=2012-05-12 }} bang-olufsen.com

=Design=

B&O has a distinctive design appeal that Wired described as "quality media delivery via striking objects". Their work with radios and loudspeakers led them to value high-fidelity musical reproduction uninfluenced by technological limitations; in Danish Ærlig musikgengivelse, meaning "honest music reproduction". To this end, psychoacoustics was important to designing and testing B&O products.{{citation needed|date=January 2015}}

By 1960, B&O had begun its foray into global markets with star designers Henning Moldenhawer and Jacob Jensen, who designed 234 products{{efn|"Jensen designed 234 products for the company"}} for B&O from 1965 to 1985.{{efn|"His work for Danish company Bang & Olufsen (1965-1985)"{{cite journal |title=Remote access |last1=Bagner |first1=Alex |journal=Wallpaper |date=May 2007 |issue=99 |pages=264–270 |publisher=IPC Media |issn=1364-4475 |oclc=948263254 }}}} B&O hires designers rather than directly employing them in the company.{{cite web|url=http://www.oobject.com/category/10-classic-jacob-jensen-gadgets/|title=10 classic jacob jensen gadgets}} David Lewis, who became involved with B&O in 1965 then went on to design most of the company's products after 1980.{{Citation needed|date=January 2008}} In 1978, the Museum of Modern Art in New York City held an exhibition dedicated to Bang & Olufsen designs.{{cite news|title=Elegant Design of Sound Equipment Focus of MoMA Show|url=http://www.moma.org/momaorg/shared/pdfs/docs/press_archives/5596/releases/MOMA_1978_0032_29.pdf?2010|work=Museum of Modern Art|date=March 1978}} It is known to give its designers a lot of free rein. Bang & Olufsen has also collaborated with contemporary designers, including Benjamin Hubert,{{cite web |title=Bang & Olufsen Beosound Balance |url=https://www.wallpaper.com/technology/bang-olufsen-beosound-balance |website=Wallpaper* |access-date=26 March 2025}} Michael Anastassiades,{{cite web |title=Michael Anastassiades designs Beosound Edge speaker for Bang & Olufsen |url=https://www.dezeen.com/2018/09/03/michael-anastassiades-beosound-edge-speaker-bang-olufsen/ |website=Dezeen |date=3 September 2018 |access-date=26 March 2025}} and Cecilie Manz.{{cite web |title=Cecilie Manz designs portable speaker for Bang & Olufsen |url=https://www.dezeen.com/2018/05/22/cecilie-manz-designs-portable-speaker-for-bang-olufsen/ |website=Dezeen |date=22 May 2018 |access-date=26 March 2025}}

It also has been debated that Apple's iPod design was inspired by B&O's BeoCom 6000, a wireless telephone designed by Henrik Sørig Thomsen with a wheel to scroll.[http://www.fastcodesign.com/3016910/apples-inspiration-for-the-ipod-bang-olufsen-not-dieter-rams "Apple's Inspiration For The iPod? Bang & Olufsen".] fastdesign.com, November 2013.

Subsidiaries

  • ICEpower a/s was formed in 1999 as a joint venture between B&O and Karsten Nielsen. The company is a technology research and design organization working in the field of switching type Class-D amplifier.{{cite web|url=http://www.icepower.bang-olufsen.com/|title=ICEpower – Class D OEM audio amplifiers|access-date=2005-09-08|archive-url=https://web.archive.org/web/20080612195208/http://www.icepower.bang-olufsen.com/|archive-date=2008-06-12|url-status=dead}}
  • Bang & Olufsen Medicom a/s manufacturers and designs medical products such as inhalers and automatic syringes.[http://www.medicom.bang-olufsen.com/ Bang & Olufsen Medicom] {{webarchive|url=https://web.archive.org/web/20090404044037/http://www.medicom.bang-olufsen.com/ |date=2009-04-04 }} medicom.bang-olufsen.com
  • Bang & Olufsen Telecom a/s.
  • B&O PLAY{{Cite web|url=https://www.bang-olufsen.com/en|title=Bang & Olufsen - High-end Headphones, Speakers, and Televisions|website=www.bang-olufsen.com}} is the newest member of the Bang & Olufsen family launched in 2012.

Partnerships

  • HP{{Cite web |title=Computer audio sound system for HP {{!}} Bang & Olufsen |url=https://corporate.bang-olufsen.com/en/partners/consumer-electronics/hp |access-date=2024-09-05 |website=corporate.bang-olufsen.com |language=en}}
  • Xbox{{Cite web |title=Xbox and Bang & Olufsen - Immersive gaming experiences |url=https://corporate.bang-olufsen.com/en/partners/consumer-electronics/xbox |access-date=2024-09-05 |website=corporate.bang-olufsen.com |language=en}}
  • Cisco{{Cite web |title=Cisco |url=https://corporate.bang-olufsen.com/en/partners/consumer-electronics/cisco |access-date=2024-09-05 |website=corporate.bang-olufsen.com |language=en}}
  • Sagemcom{{Cite web |title=Sagemcom |url=https://corporate.bang-olufsen.com/en/partners/consumer-electronics/sagemcom |access-date=2024-09-05 |website=corporate.bang-olufsen.com |language=en}}{{Cite web |title=Sagemcom partners with B&O to launch Dolby Atmos box |url=https://www.flatpanelshd.com/news.php?subaction=showfull&id=1626680277 |access-date=2024-09-05 |website=FlatpanelsHD |language=en}}
  • Origin Acoustics as Brand Manager {{Cite web |title=Origin Acoustics Is Now the Brand Manager for Bang & Olufsen’s Full Portfolio – rAVe [PUBS] |url=https://www.ravepubs.com/origin-acoustics-bang-olufsen/ |access-date=2024-09-05 |website=www.ravepubs.com |language=en-US}}
  • Acura{{Cite web |date=2023-07-11 |title=Acura and Bang & Olufsen™ Launch New Premium Audio Collaboration for All Future Acura Models |url=https://acuranews.com/en-US/releases/release-13f25e90cfe47cd58453f1f71026eebd-acura-and-bang-olufsen-launch-new-premium-audio-collaboration-for-all-future-acura-models |access-date=2024-09-05 |website=Acura Newsroom |language=en}}
  • Scuderia Ferrari{{Cite web |title=Bang & Olufsen Official Partner - Ferrari.com |url=https://www.ferrari.com/en-EN/formula1/partners/bang-olufsen |access-date=2024-09-05 |website=www.ferrari.com |language=en}}
  • Williams Racing as an official team partner.{{Cite web |title=Williams Racing announces multi-year partnership with Bang & Olufsen |url=https://www.williamsf1.com/posts/135e0275-b4e5-4572-b3ad-d2ca2095758b/williams-announce-bang-and-olufsen-partnership?srsltid=AfmBOorsAZ4EwP4-SoF_ABKIy0pFozI3N59f9bG6rUeX6_IVQ1vLpMIi |access-date=2024-09-05 |website=Williams Racing |language=en}}
  • City of Monaco{{Cite web |date=2023-03-01 |title=Bang & Olufsen extends partnership with AS Monaco until 2026 |url=https://onefootball.com/fr/news/bang-olufsen-extends-partnership-with-as-monaco-until-2026-39555907 |access-date=2024-09-05 |website=OneFootball |language=fr}}
  • Caroline Wozniacki and her husband David Lee as brand ambassadors{{Cite web |title=Bang & Olufsen Names Caroline Wozniacki Brand Ambassador |url=https://www.cepro.com/productbriefs/bang-olufsen-names-caroline-wozniacki-brand-ambassador/#:~:text=Wozniacki%20Brand%20Ambassador-,Bang%20&%20Olufsen%20(B&O)%20has%20announced%20that%20former%20tennis%20player,for%20the%20global%20electronics%20company. |access-date=2024-09-05 |website=CEPRO |language=en-US}}

See also

Notes

{{notelist}}

References

{{Reflist|30em}}

=Further reading=

  • {{cite book |author=Bang, Jens |title=From Spark to Icon |publisher=Bang & Olufsen |location=Denmark |year=2005 |isbn=87-980814-5-4}}
  • {{cite book |author1=Jarman, Tim |author2=Jarman Nick |title=Crowood Collectors' Series: Bang & Olufsen |publisher=Crowood Press |location=England |year=2008 |isbn=978-1-84797-068-8}}