Taiwanese consumer electronics maker Tatung recently announced that its board of directors has approved the establishment of a joint venture, General Display & Technologies, with US-based GE (General Electric), Commercial Times of Taiwan reported. The new company is granted an exclusive license to sell products under the GE brand for 10 years. Via this venture, Tatung and GE will collaborate on the sales and marketing of GE-branded products in North America and Europe.

As per the agreement, Tatung will inject around NT$500 million (US$16.5 million; US$1=NT$30.4) in General Display & Technologies and holds 51% stake, while the remaining 49% will be held by GE. In addition, Tatung is expected to manufacture GE-branded products, including LCD (Liquid Crystal Display) TV, LCD monitors, STBs (Set Top Boxes), and digital projectors, for the new company. The first batch of products is slated to hit the North American market in the second quarter of 2009.