Sep 26, 2016

Vestel and Toshiba sign licensing deal for European market

Written by Avantgarde
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Vestel (Twitter: @Vestel), a Turkish home and professional appliances manufacturing company recently entered into a strategic brand licensing deal with Toshiba(Twitter: @ToshibaUK), a Japanese multinational conglomerate with an aim to successfully extend the production and sale of Toshiba-branded Television sets in Europe.

After a success in the European market with its budget-conscious brand Finlux, producing a line of consumer electronic products including flat screen LED TVs and home cinema audio products, Vestel is now all set to produce Toshiba-branded TVs to compete in the mid to high-end arena.

Toshiba’s design expertise and reputation for high quality combined with Vestel’s manufacturing proficiency and supply chain network is sure to help Toshiba regain the 10 percent market share that it enjoyed in the early stages of the flat screen boom.

The results of the deal that was announced at IFA 2016 in Berlin is expected to be seen in the European market by January next year.

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