Bang & Olufsen kills off gadget business

Bang & Olufsen, well known for their pricey consumer electronics and high-end styling, has announced that they will be pulling the plug on manufacturing everything outside their core TV and sound system business. That means all those mobile phones, DVD players and DVD recorders that well-heeled consumers were snapping up last year are going to become a bit more scarce.

The problem is that current economic conditions don’t favor high-end gadget purchases like $2000 cellphones and $20,000 home theater systems. Bang & Olufsen’s chief executive Karl Kristian Hvidt Nielsen says that sales on all products have taken a hit. “It’s a pretty broad spread.”

So, if a Bang & Olufsen handset was high on your list of must-have gadgets for this holiday shopping season, may we suggest eBay or Craigslist?

[Via: Financial Times]

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