Pioneer to Re-commence Flat Panel TV business with Suning

Posted on: Fri, 04 Dec 2009 06:34:00 EST

Symbols: PIO, SUNIF

NANJING, Dec 04, 2009 (SinoCast Daily Business Beat via COMTEX) --
SUNIF | Quote | Chart | News | PowerRating -- Japanese electronics maker Pioneer Corp. is expected to reenter flat panel TV market in cooperation with leading Chinese home appliance retailer Suning Appliance Co., Ltd. (SZSE: 002024), citing a report.

Pioneer and Suning lately signed an agreement about their cooperation in the Chinese market, with the Chinese company helping promote Pioneer-branded household audio devices. Besides, Suning reportedly has been authorized to utilize the Pioneer brand on the flat panel TVs developed by itself for Chinese consumers.

Although Pioneer has announced its withdrawal from the flat panel TV market, it still can provide such technologies for Suning, according to insiders.

A Suning executive named Wang Zhe said that his company would not manufacture TVs actually, instead, the two companies would seek for OEMs of the Pioneer TVs. In fact, Suning is like the Pioneer TVs' general agent in China, he added.

Not long ago, Suning agreed to serve as the exclusive chain-store distributor of Hitachi-branded TVs in the local market.

Source: www.hexun.com (December 04, 2009)

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