RadioShack Explores Chinese TV Market with Tmall and Foxconn
The American electronics chain RadioShack is partnering with Tmall, one of the largest online business-to-consumers (B2C) platforms in China, to issue its own brand of 60-inch TVs on the Chinese market. The OEM of the new 60-inch product is Foxconn.
In the first half of 2012, RadioShack established a joint venture with Cyber International Holding, a subsidiary of Foxconn, largely running a computer, communication, and consumer electronic products business.
The 60-inch TV is priced at $1,445 on Tmall, lower than the prices of the same series of products sold in Japan and Korea (around $1,606). Insiders believe that RadioShack wants to fight for a larger share of the TV market in China. According to data provided by 21CBH, the number of large-sized (over 60 inches) TVs sold in China reached 320,000 in 2012 with a sales volume of almost $900 million.
RadioShack, founded in 1921 in Boston, is one of the largest digital retailers in the US. It started its own brand in 1954 and now has more than 400 self-owned brands. At present, RadioShack has 7,000 outlets in the world, with just three in China, and plans to open 500 new outlets by 2015, as reported by 21CBH.
After the failure of American Best Buy and German Media Markt in the Chinese market, RadioShack is choosing a different channel, the e-commerce platform. RadioShack will introduce more products in addition to the TVs into the Chinese market in the future, according to Wang Zhizhong, president of RadioShack (China).
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