Bang & Olufsen A/S is a Denmark-based company engaged in the design, development and marketing of audio and video equipment. The Company�s offering primarily comprises music systems, loudspeakers, television sets and multimedia products. It operates two business lines, namely Business-to-consumer (B2C) and Business-to-business (B2B). The B2C business line consists of the AV and the B&O PLAY segments. The AV segment comprises audio and video products sold under the Bang & Olufsen brand in more than 900 stores. The B&O PLAY segment offers digital audio and visual equipment. The B2B business line consists of the Automotive and ICEpower segments. The Automotive segment comprises development, production and sale of sound systems for cars, such as Aston Martin, Audi, BMW and Mercedes-AMG. The ICEpower segment is engaged in the development, production and sales of compact, digital amplifier units. As of May 31, 2012, the Company had 26 wholly owned subsidiaries.