Hisense buys Toshiba TV business

After it acquired the German Loewe TV brand a while ago, Hisense will purchase the Toshiba TV production, R&D and operation service.

Hisense will purchase 95% of Toshiba Visual Solutions Corporation, a wholly owned subsidiary of Toshiba Corporation, with Toshiba retaining 5%.

The purchase price is 12.9 billion Japanese Yen.

Along with the businesses Hisense will obtain a license to the Toshiba brand for a period of 40 years.