US-based GE (General Electric) and Taiwanese electronics manufacturer Tatung announced on September 23 that they have entered into a joint venture for Tatung to manufacture GE-branded HD (High-Definition) LCD (Liquid Crystal Display) TVs, Taiwan's United Daily News reported.

Named General Displays and Technologies, the venture will be based in Chino, California, with production locations in Taiwan, Mexico, and China. Production is slated to commence in 2009, with an initial target of two million HDTVs enabled with direct access to the Internet without resorting to an external PC. The company aims at about 1% of the global TV shipment volume, accounting for 5% to 10% of the US$200 billion TV market worldwide.

Tatung has invested US$16.1 million for a 51% stake in General Displays and Technologies, while GE obtained the remaining 49% in exchange for 10 years of brand licensing.