HiSense Electric wins TV Supply Deal with European Retailers
Nov 3, 2004
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HiSense Electric Co Ltd., one of China's largest home appliance makers, said it has reached a deal to supply 150,000 panel televisions to European retailers including France's Carrefour and Britain's TESCO.
The company declined to release further financial details of the order, which is expected to be completed next March.
"HiSense has a 5-percent share in the European panel TV market, and this deal has established sound cooperative relationships between the company and European retailers, which is of great importance to us," said Yu Haitao from HiSense's marketing department.
HiSense's TV assembly plant in Hungary, which was set up in April and started operations in June, will manufacture panel TV sets and provide maintenance services for the European market, Mr. Yu added.
When Hungary became a European Union member on May 1, HiSense was able to avoid the 40-percent anti-dumping duty imposed by the EU on Chinese TV exporters, HiSense said in an earlier statement.
Mr. Yu said HiSense's largest rivals in the European panel TV market include Sony Corp and Matsushita Electric Industrial Co Ltd, which produces the Panasonic brand, as well as South Korea's Samsung Electronics Co. Ltd. (AFX)
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