Danish high-end electronics manufacturer Bang & Olufsen has recently officially announced its exit from the mobile phone business. According to the Financial Times of the UK, the company will not only discontinue production of mobile phones but also stop producing DVD players and recorders, in order to refocus on TVs and audio equipment. Previously, the company was renowned for producing high-end audio equipment and claimed to have the MP3 player with the best sound quality, the BeoPlayer.
Of course, the company's exit will not significantly impact the mobile industry. However, Bang & Olufsen's withdrawal from the mobile market indicates that consumers are paying more attention to functionality and performance, while showing less interest in devices that are extremely costly and pricey. Two years ago, Bang & Olufsen collaborated with Samsung to launch the uniquely designed Bang & Olufsen Serene phone, which was priced as high as $1275.