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Home > News > Company News > Toshiba sells TV business to H.....

Toshiba sells TV business to Hisense of China

  • Author:Ella Cai
  • Release on:2017-11-15
Toshiba has sold its TV manufacturing business to Hisense Electric Co of China in a deal valued at 12.9 billion yen ($114m).

Hisense will purchase a 95% shareholding in Toshiba Visual Solutions, and Toshiba will retain the remaining 5%.

The deal includes the TV businesses including production, research and development, and sales functions.

The company will have a license to use the Toshiba brand in connection with its visual solutions products and services for a period of 40 years.

Liu Hongxin, the CEO of Hisense Group said the combination with Hisense will optimise TVS’s resources on R&D, supply chain and global sales channels. There are also plans to provide content operation services for smart TVs for the global market.

According to the IHS, sales of Toshiba TV ranked No.3 in Japanese market in 2016.

At present, Hisense TV’s market share in 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. Hisense’s colour TV business in 2016 ranked third in the world.