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5 Domestic TV Makers Form Alliance
China Business News, 4/29/08
The State Council Development Research Center's China Business Evaluation Association has overseen an industry alliance between five major Chinese TV manufacturers - TCL Multimedia (1070.HK), Hisense (600060.SH), Konka (000016.SZ), Changhong (600839.SH) and Xoceco (600870.SH). The alliance has committed to not using the Olympics as an opportunity to increase prices, to keep average prices below that of foreign brands, and to work together on the R&D of LCD modules and joint procurement of panels in order to better negotiate reduced prices. Technical and resource partnerships between the five firms will also be used to reduce reliance on foreign-invested upstream suppliers.
Keywords: TV set, television, TCL Multimedia, 1070.HK, Hisense, 600060.SH, Konka, 000016.SZ, Changhong, 600839.SH, Xoceco, 600870.SH, alliance, Development Research Center, hardware, LCD, Olympics, State Council
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