USEUROPEAFRICAASIA 中文双语Français
Home / Business

Toshiba sells TV business to Hisense

By Xie Chuanjiao in Qingdao, Shandong | China Daily | Updated: 2017-11-15 07:09

Chinese home appliance maker Hisense Group said on Tuesday that it was acquiring the television business of struggling Japanese conglomerate Toshiba for 12.9 billion yen ($113.44 million) to further expand its overseas business.

Under the deal, Hisense Electric Co Ltd, the listed unit of Hisense Group, would purchase a 95 percent stake in Toshiba Visual Solutions Corp (TVS), a wholly-owned subsidiary of Toshiba Corporation, while the Japanese company would retain the balance 5 percent stake.

The Qingdao-based company would gain access to the Japanese firm's television business, including production, research and development and sales functions.

Toshiba sells TV business to Hisense

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US