> Is it possible to buy a laptop that has built-in speakers which aren't a 
> joke?

No.

> Is there some theoretical reason why the speakers in a laptop can't 
> produce high-quality sound?

Yes, to produce hi-fi quality sound you need a speaker cone bigger than most 
laptops and a very carefully designed enclosure to produce a nice response.

> Or is it merely that manufacturers are eager to fit the best, most 
> powerful CPU and sell the unit for the lowest possible cost, and fitting a 
> better set of speakers isn't a high priority?

Exactly - I suspect that most laptop design companies don't even employee a 
single audio engineer to optimise these things.  Or maybe they do, but they 
get given a space of 2cm3 and a budget of 25c per laptop.

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