Toshiba seems to be selling most of their businesses to other companies this year. Remember when Toshiba sold their NAND flash memory business earlier this year? Toshiba isn’t stopping, as news broke that Toshiba is now actually selling their Toshiba TV production, brand, R&D, and operation service to Hisense for an undisclosed amount. It’ll be effective this 14th November 2017.
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.
According to the IHS, sales of Toshiba TV ranked No.3 in Japanese market in 2016
with the Hisense TV market share in Japan the highest among all non-Japanese
brands. Collectively both brands cumulative market share reaches over 20% after the
transaction. Hisense TV business in 2016 ranked third in the world (IHS) and has
held NO.1 market share in China for 13 consecutive years.
To those who are wondering – yes, Hisense is a Chinese brand. Now as Hisense owns 95% of Toshiba’s TV division, that means China is once again on the brink of world domination. Just that they’re taking it a little slowly. The smartphone market is already being dominated by Chinese phones, and even mechanical keyboards are being dominated.
More to come soon?
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