Toshiba TV Brand Tipped To Go From Harvey Norman
Hisense sources in China have said that the Toshiba TV brand will not be continued in Australia due to the strength of the Hisense brand.
Last year Hisense acquired 95% stock shares of Toshiba’s TV for A$119M in a move aimed at shoring up the Chinese Companies sales in the USA.
As part of the deal Hisense obtained research and development, production, and sales functions as well as the license to use the Toshiba brand for a period of 40 years.
The Australian market is one of the strongest markets in the world for Hisense, ChannelNews understands that local Hisense management decided against a two-brand strategy however it is not known when the Japanese brand will disappear from Harvey Norman stores.
Currently manufactured by Skyworks the Toshiba brand could be replaced by Philips, Hitachi or not at all claim insiders. Earlier thisw year Powermove management claimed that a new Toshiba OLED TV would be launched in Australia, this never happened.
Prior to the sale the Toshiba reported a A$5.2 billion-dollar loss earlier this year.