Hisense Buys Toshiba TV Brand

Hisense Electric Co., Ltd, a subsidiary of Hisense Group, has announced it’s buying Toshiba’s TV business, including its production, brand, R&D, and operation services, in a deal worth 12.9 billion Yen (US$114 million).

Hisense Electric Co., Ltd, a subsidiary of Hisense Group, has announced it’s buying Toshiba’s TV business, including its production, brand, R&D, and operation services, in a deal worth 12.9 billion Yen (US$114 million).

PR Newswire:

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