LINE

Text:AAAPrint
Economy

China's Hisense buys Toshiba's TV business

1
2017-11-14 20:33Xinhua Editor: Liang Meichen ECNS App Download

Chinese electronics giant Hisense will buy a 95 percent stake in Japan's Toshiba Visual Solutions Corporation (TVS), as part of its efforts to expand globally.

Hisense Electric Co., Ltd., under the Hisense Group, and Tokyo-based Toshiba Corp. Tuesday jointly announced the 12.9 billion yen (about 113 million U.S. dollar) deal which will be completed by the end of February 2018. TVS is a television and visual products subsidiary under the Japanese electronics maker Toshiba.

After the transaction, Hisense will take over a raft of business including products, brands and operations services, said Liu Hongxin, president of Hisense Group.

Hisense will integrate the research and development strength of the two companies, as well as supply chain and global channel resources, to improve its market share and global presence, he said.

Sales of Hisense televisions have topped the Chinese market for the past 13 consecutive years and ranked the third globally in 2015 and 2016, according to the company.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.