Panasonic announced a strategic partnership with Skyworth, in which the Chinese TV maker will produce, market and sell Panasonic branded TVs. Panasonic itself will provide expertise and quality assurance for these TVs.
The two companies will join forces to develop new high-end OLED TVs. Skyworth is estimated to be the third largest OLED TV producer (following LG Electronics and Sony), but was mostly focused on its domestic market in China. Now this partnership will enable it to grow globally, using Panasonic's well-trusted global TV brand.
This new development follows the sort-of-exit of another leading Japanese TV makers - last month Sony announced today that it plans to spin-out its TV and home audio business to a separate entity, and introduce TCL that will hold a 51% stake. The new company will continue to use the Sony and Bravia brands, and will handle the full process from product development and design to manufacturing, sales, logistics, and customer service for its TV and audio products.
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