China-based Acorn International (ATV) announced the completion of its acquisition of Yiyang Yukang Communication Equipment Company Limited, a domestic communication equipment producer and distributor in China.

Struggling Chinese television shopping and direct sales company Acorn International (ATV) has entered into a binding term sheet to acquire Yiyang Yukang Communication Equipment Company Limited, a Chinese communications equipment producer and distributor in China.

Chinese home appliances retail giant Gome plans to invest CNY1 billion to enter China's TV direct sales sector and the business is expected to start at the beginning of 2009.

According to the latest report on China's TV direct sales, in 2007 the scale of China's TV direct sales market reached CNY7 billion, a year-on-year increase of 55.6%.

Chinese consumer products direct marketing and television shopping company Acorn (ATV) says it is in negotiations to acquire Yiyang Yukang Communication Equipment Company, a domestic communication equipment and electronic component producer and distributor.

Chinese TV shopping company Acorn International (ATV) says quarterly net revenues were USD47.2 million, a decrease of 25.4% compared to USD63.3 million in the second quarter of 2007, as it announced its second quarter financial results for the three months ended June 30, 2008.

China Seven Star Shopping Limited, a leading television shopping company in China, suffered a big loss of HK$380 million in 2007 and as a result the company now seeks to shift to online video shopping.

Chinese television shopping company Acorn International announced its third quarter financial results for the three months ended September 30, 2008 and says net revenues were USD75.7 million, an increase of 3.4% compared to USD73.2 million in the third quarter 2007.