The Danish firm called a review of its media planning and buying arrangements, estimated to be worth £15m globally, last month.
The UK account, held by Carat, is worth £1.9m, most of which is spent on press with some activity across outdoor and radio.
Bang & Olufsen sells its high-range products through its own branded stores across the globe, rather than through high-street electronic retailers and across web retail sites.
The manufacturer is currently promoting its bespoke BeoSound 4 system with BeoLab 4 speakers and encourages the use of demonstrations to sell its products to an AB1 demographic.
No one at Bang & Olufsen nor Carat was available for comment regarding the withdrawal from the pitch process.
Bang & Olufsen is not thought to have drawn up a full shortlist to pitch for its media business.
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