Asia Express - Display
Skyworth Buys METZ to Make Inroads into Europe
May 13, 2015

Chinese TV vendor Skyworth has acquired the LCD (Liquid Crystal Display) and LED (Light Emitting Diode) TV business of German TV company METZ for 100 million RMB (US$16.1 million; US$1=6.21 RMB), reported Want China Times on May 11. As China's TV market revenues slid last year for the first time in 30 years, Skyworth is seeking bigger growth in oversea markets. After the acquisition, Skyworth will keep the METZ brand and its sales channels, and will try to expand the METZ brand into a home appliances brand. The acquisition is still subject to regulatory approval and is expected to close by June 1.