RadioShack announces expansion plan in China

Updated: 2012-06-09 13:30


  Print Mail Large Medium  Small 分享按钮 0

HOUSTON - US electronics retailer RadioShack will enter into a joint venture with a Chinese company to open electronics stores in the Great China region, including the Chinese mainland, Taiwan, Hong Kong and Macao, US media reported on Friday.

The Texas-based company announced the plan on Thursday, and details are in a filing with the US Securities and Exchange Commission, according to the local TV channel ABC13.

Under the deal signed between RadioShack and China's Cybermart, RadioShack will invest $2.94 million and own 49 percent of the venture, and Cybermart will own 51 percent.

The stores will have the RadioShack brand and sell "consumer electronic products, accessories and related services." The first store is scheduled to open next month in the Chinese city of Shanghai.

The move continues a push into Asia for RadioShack. In March, RadioShack announced that it would open 1,000 stores across Southeast Asia.