TCL and Toshiba will establish a joint venture company in mainland China

Chinese TV manufacturer TCL Group and Toshiba Japan have announced plans to establish a joint venture company, Toshiba Video Products (China) Co., Ltd., which is located in Huizhou, China.

TCL will invest RMB 24.5 million (US$3.22 million), accounting for 49% of the registered capital of the joint venture company, while Toshiba will contribute RMB 25.5 million, accounting for 51% of the registered capital.

TCL Group said it expects TCL Group to obtain ODM orders from Japanese manufacturers through joint ventures, and Japanese manufacturers are expected to expand their sales market in China.

In 2009, Toshiba Regza series LCD TV shipments have exceeded 10 million units, and the target for 2010 is to exceed 15 million units.