Chinese home appliance manufacturer Hisense announced that it will position itself as a multimedia technology and product supplier and gradually withdraw from its traditional CRT business.
By so doing, Hisense has become the first large electrical appliance company in China to make the leap.
Li Hongxin, general manager of Hisense, told local media that Hisense has made this adjustment in order to meet market demand.
Li says by 2009, the sales volume of LCD and plasma televisions will be eightfold and fourfold, respectively, that of 2004, while CRT market share will decline by 40%.
Hisense is a Chinese electronics manufacturer whose origins started in 1969 when Hisense was known as Qingdao No. 2 Radio Factory. The company's products include televisions, air conditioners, LCDs, refrigerators and mobile phones.