Hisense buys Toshiba’s TV brand

China’s Hisense Electric has bought Toshiba’s TV production, its brand, R&D and operations, effective November 14th.

Hisense will purchase 95 per cent stock shares of Toshiba Visual Solutions Corporation (TVS), a wholly owned subsidiary of Toshiba Corporation for ¥12.9 billion (€96m) with Toshiba retaining 5 per cent stock holding. Hisense will obtain the TVS businesses including production, research and development, and sales functions as well as licence to use the Toshiba brand for a period of 40 years for visual solution partners operating in Europe, South East Asia and other markets.

Source: Hisense buys Toshiba’s TV brand