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| Sunday, 25 January 2004 |
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| News Business Features Editorial
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Singer ties up with Chinese TV manufacturer by Hiran H. Senewiratne Sri Lanka's leading home entertainment company Singer (Sri Lanka) Ltd (SSL) recently tied up with TCL Corporation, a Chinese giant in the colour television field. This will be a big impetus for the local electronic industry, SSL Chairman Hemaka Amarasuriya said at the signing ceremony. "Sri Lanka's electronics industry is almost dead due to the tariff structure prevailing in the country," he added. The revival of the industry depends on tie-ups of this nature with global companies," Amarasuriya said. He said Singer has been assembling televisions for the local market for many years, but the industry is on the verge of collapse; the reason being the prevailing tariff structure and unhealthy competition in the market, he added. The SSL intends to revamp the TV assembly unit of the company with TCL assistance. Amarasuriya said the tie-up is a historical event for the company and described TCL as "China's fastest growing and largest manufacturer of colour televisions and home entertainment products". Singer has been successfully distributing TCL home electronics products over the last 18 months and last August, became the exclusive distributor for TCL in the country with the Chinese company discontinuing all other distribution channels in Sri Lanka. At present Singer dominates the colour television market in the country. It sold over 77,000 units last year. Amarasuriya said the tie-up between between Singer and TCL in the area of consumer electronics would result in economies of scale, low cost of production and easy access for research and development. He said this would benefit Sri Lankan consumers in the long run. TCL Deputy General Manager, Overseas Marketing Zhou Mingkang said the deal between the two companies will go beyond the exclusive marketing arrangement. "We will also provide Sri Lanka with technical information, assistance and the required manpower to help resurrect the consumer electronics segment within the Singer group," he emphasised. TCL has also formed a joint venture with leading French electronics giant Thomson, which makes TCL Thomson the largest colour television manufacturer in the world with 2004 volumes exceeding 18 million units. TCL also acquired Schneider Electronics, the German manufacturer of high-end TV and display products last year. |
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