In the TV market the company has been forced to use OEM manufacturers with consumers shying away from paying up to triple the price for a B&O sound system or TV simply because it has been designed by the Danish company. Another problem for the company is that it predominantly sells its product offerings via its own company stores, and to get traffic to these stores is expensive.
Torben Ballegaard Soerensen was sacked last week as the company's CEO. He became CEO at Bang & Olufsen A/S in 2001 after leaving Lego's, where he was the business development chief.
Mr Sorensen left the company after it was forced to announce a 37% decline in half-year profits, news that sent its share price tumbling 28% last week.
