Bang & Olufsen report fall in sales

LUXURY manufacturer Bang & Olufsen have reported a fall in sales across Europe for the last two months.

The maker of luxury stereos and television sets,fell as much as 5.6 percent, the most since Nov. 15, after reporting second-quarter net income of 28.8 million kroner (£3.2M).B&O, based in Struer, Denmark, said revenue at its AV unit, which includes its stereos and TV sets, declined 8.6 percent in the second quarter as European sales slumped.

Bang & Olufsen has been failing to keep up with strong competition from Asian brands which have been delivering high end products with improved technical performances. Bang & Olufsen’s positioning as a design technology company has also been losing stance, high end consumers opting more for technology rather than design features when it comes to TV sets.