New details have emerged about Bang & Olufsen's forthcoming HDTV under its cost-friendly brand, B&O Play. According to Recordere, it is called the V1 and will debut at a press event on May 2nd. It will allegedly come in 32- and 40-inch varieties and sport integrated 5.1 surround sound audio, LED illumination and wireless networking. Although it is rumored to be more aggressively priced than the BeoVision 12 TV, which retails for $11,350, it is hardly what many would consider cheap. The 32-inch model, the V1-32, is expected to retail for €2,399 ($3,170), while the 40-inch model, the V1-40, will likely cost €2,899 ($3,831). Both will apparently come with Bang & Olufsen's overhauled TV software that will boast a redesigned user interface, DLNA media player, and support for photo and audio sharing from Android and iOS devices. With the announcement rumored to be taking place in less than two weeks, fans of Bang & Olufsen's premium design may not have to wait long to get their hands on the V1.