GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments

 
  Share
  • Hisense will obtain the TV business including production, research & development, and sales functions
  • Acquisition will further develop and grow Hisense international strategy for TV Business
Dubai, UAE: 15 November 2017: Hisense Electric Co., Ltd, a publicly listed subsidiary of Hisense Group announced the agreement to acquire Toshiba TV Productions for a total of US$ 113 Million (12.9 Billion Japanese Yen).
In this transaction, Hisense will purchase 95% stock shares of Toshiba Visual Solutions Corporation (“TVS”), a wholly owned subsidiary of Toshiba Corporation, with Toshiba holding on to its 5% stock rights. Hisense will acquire the TV business including production, research and development, and sales functions. Meanwhile, TVS will acquire a worldwide license to use the Toshiba brand in connection with its visual solutions products and services for a period of 40 years, including in connection with TVS's existing business partners operating in Europe, SE Asia and elsewhere.
Mr. Liu Hongxin, the president of Hisense Group who attended the ceremony, stated that Hisense will optimize TVS's resources on R&D, supply chain or global sales channels. Both companies will also cooperate and support each other in display technology, to provide competitive content operation services for smart TVs for the global market and to maintain its fast growth in the Japanese market.
With the benefit of this acquisition, Hisense will further develop and grow its international strategy for the TV business in R&D, branding and marketing by operating under multiple brands whereby the cooperation between Hisense and Toshiba will drive positive change to the TV business.
Within its 142-year history, Toshiba led the technology in the display field both in Japan and worldwide with the Toshiba brand being top-ranked in the Global Technology Brand List. TVS primarily operate Toshiba TV and various ancillary products, including commercial display and, advertisement display products. TVS has two factories in Japan and hundreds of R&D employees, and has a significant IP portfolio related to TV business, including patents related to TV image quality and acoustics.
According to the IHS, sales of Toshiba TV ranked No.3 in the Japanese market in 2016. At present, Hisense TV's market share in the Japanese Market is the highest among all the foreign brands. The market share of Toshiba brand and Hisense brand is 20% of the TV market in Japan and will target No.2 in Japanese market after the transaction. Hisense TV business in 2016 ranked third in the world (IHS). It has been the first in China for 13 consecutive years and continuously sponsoring the 2016 European Cup, 2018 World Cup and other top sports events, to implement its global strategy.



Posted by : GoDubai Editorial Team
Viewed 3776 times
Posted on : Wednesday, November 15, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Rockwell Collins part of advancing entrepreneur-led innovation initiative by Airbus in Saudi Arabia
Next Story : Union Insurance Company Reports Nine-Month Results
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Reverse the effects of hair fall with Crescina Re-Growth HFSC Shampoo
Achieve whiter teeth at home with Spotlight Teeth White Strips
Noble™ Anti-aging Skin Care Products
Golden Bridge Rectangle Diamonds Celebrates The Virtuosity Of Art Deco Design Genius
UAE National Day celebrated in Skyline Carnival 2017
Skyline Conducted Women of Substance: A Panel Discussion on Women Empowerment
Calvin Klein Presents Steadfast Collection
SUC signed MOU with Waldorf Astoria Ras Al Khaimah
SUC conducted Tour Guide Training Program for SCTDA
Mohammed bin Rashid Launches UAE Astronaut Programme
Mido's Multifort Escape - An uncompromising timepiece for exploring new horizons
Eberhard & Co. celebrates 130th Anniversary with special commemorative Edition C...
NIVEA MEN and Real Madrid Extend Partnership Globally Covering 70+ Countries
Gift gorgeous skin this festive season.
British Orchard Nursery wins the BIZZ Award for the 2nd year in a row
Time for Some AIGNER Love
Sthan, bringing you authentic Frontier food from beyond borders, is now open in Dubai
RUNWAY DUBAI creates a new buzz campaign for fashion tourism
Coach Women's Lex Stainless Steel Bracelet Watch Collection
Celebrate the Festive Season With the Galleria on Al Maryah Island in Abu Dhabi
‘Artistry' - Branded Jewellery show at Malabar Gold & Diamonds' outlet in Meena ...
Dubai Land Department Launches its Smart Archiving System
Together for Egyptian Cinema: A Million happy viewers
Feast your way into the festive season at The Coffee Club
Bovet Presents Brilliant Is Beautiful Gala Benefitting Artists for Peace and Ju...
Robinsons National Day Trunk Show
Svelte BU4108-11H dress watch in black and rose gold plating makes an impact
BOSS watches presents Navigator Collection
Gourmet Gifting at Tub of Butter
Hottest Smartphone ever! Go get a true luxury phone from HUAWEI
Over 200 developers across India participate in CREDAI's Indian Property Show
Globally-Renowned Modest Fashion Week Debuts in Dubai This December
Absolutely Rejuvenated Skin to Start the New Year
Lg V30+ Launches in the Uae and Makes Its Way Into Customers' Pockets and Lives
Unilever's Lipton Jebel Ali Tea Factory First in MENA to Achieve Bronze World Cl...
The First “Dilmah Silver Jubilee Gourmet” in a Middle East Hotel Opens in Pullma...
More Than 6,000 Bears Donated to Toys With Wings & Emirates Red Crescent for Nov...
Ghantoot present 17th Emirates Open Polo Championship International
Epson to showcases the future of large laser display technology at InfoComm MEA 2017
Dubai Customs reaffirms efforts to combat counterfeit goods with Japanese partners
Awqaf and Minors Affairs Foundation, Family Village Celebrate 46th UAE National Day
Automechanika Riyadh turns focus on exciting growth potential of Saudi automotiv...
The Verses of Peace Exhibition begins at the Abu Dhabi World Trade Centre
Green Hope on Former US Vice President Al Gore's 24 Hours of Climate Reality telecast
China Homelife 2017 Strengthens Sourcing Opportunities with Higher Exhibitor Par...
The du Youth Council Holds a Volunteering Day at Al Ain Zoo with People of Deter...
Strong Airline Profitability Continues in 2018
Saxo Bank 2018 Outrageous Predictions: 2018 will be a true roller coaster ride c...
Phumzile: UN Women uses rigorous methods to monitor and evaluate its programmes
Indian realty in revival mode, says industry expert