Japanese giant Toshiba has announced a deal to create a joint venture with Chinese retail firm TCL to sell the Japanese company’s LCD TVs in China.
Called Toshiba Visual Products (China), the venture will be 51% owned by Toshiba and 49% owned by TCL with operations beginning in September this year.
Toshiba will get the benefit of TCL’s sales and marketing operation in China and help grow Toshiba’s brand. And it has good reason to want to get deeper into the Chinese market. Toshiba’s own reports suggest the Chinese TV market will grow 190% between 2009 and 2012 and is expected to be the world’s largest TV market before the end of this financial year.
The company plans to have 10,000 retail outlets on its books by 2012.
Toshiba achieve TV sales in excess of 10million in 2009 and is aiming for 15million in the 2010 fiancial year.