142 Years of Toshiba's Pride, Back in the History of TV Technology

Hisense Electric Co., Ltd., a listed subsidiary of Hisense Group, announced on the 4th of this month that it has acquired Toshiba TV production, brand, R&D and operational services.

Toshiba is a leading Japanese display technology company and holds a high ranking in global technology brand rankings. Hisense plans to acquire a 95% stake in Toshiba Visual Solutions Corporation (TVS), a subsidiary of the Toshiba Group, for 12.9 billion yen.



Toshiba holds the remaining 5% stake. Hisense has secured a 40-year license to use the Toshiba brand for its TVS business, which includes production, research and development, and sales, as well as for its video solution partners operating in Europe, Southeast Asia, and other markets.

TVS primarily sells televisions and various ancillary products, including commercial and advertising display products. With the TVS acquisition, Hisense gained access to two factories in Japan, hundreds of Toshiba R&D employees, and a significant IP portfolio covering patents related to TV picture quality and sound technology.

Liu Hongxin, CEO of Hisense Group, said, "Hisense will optimize TVS's R&D resources, supply chain, and international sales channels, and provide cooperation and support in the field of display technology. We plan to provide competitive content management services for smart TVs in the international market and achieve rapid growth in the Japanese market."

According to HIS, Toshiba TV sales ranked third in the Japanese market in 2016, while Hisense held the highest market share among non-Japanese brands in the Japanese TV market. The combined market share of the two companies exceeds 20% after the transaction. Hisense's TV business ranked third globally in 2016 (HIS) and has held the top spot in the Chinese market for 13 consecutive years.

As the official television sponsor of the 2018 FIFA World Cup Russia, Hisense plans to continue expanding and implementing its international brand vision and strategy. Through the acquisition of Toshiba TV, Hisense will operate multiple brands and develop and expand its international TV business strategy across R&D, branding, and marketing. The collaboration between Hisense and Toshiba is expected to usher in a new era in the TV business.