German 3D TV maker Loewe recently partnered with Chinese company Hisense in order to achieve further reach into the Chinese market and use of Hisense’s 4K technology.
Hisense is said to benefit from the partnership by entering further into the European market, as well as using Loewe’s quality television software that includes multimedia and web apps.
Additionally, it is reported that Loewe filed for protection from creditors last month, and that the new partnership may not earn any revenue for the struggling company right away. Japanese company Sharp is currently a 28 percent shareholder of Loewe.
Word is that Loewe could remain in financial trouble if they don’t pick it up within three months. The partnership keeps both companies in the current 4K competition with Samsung, Sony, and LG.
Greg Fischer, @guru_apprentice