Color TV manufacturer Changhong and IRICO Group Electronic Company Limited, the first CPT manufacturer in China, have signed an agreement to increase investment in their plasma display panel business from CNY2 million to CNY1.8 billion.

The parties set up a joint venture company called Beijing Shiji Shuanghong Display Company in March this year with each side holding half of the stake of the company.

According to this new agreement, Changhong will hold 80% of the company's stake with CNY1.44 billion and IRICO Group the rest 20% with CNY360 million.

Changhong believes that with the demand for flat-screen TV increases, plasma TVs will become one of the mainstream television types on the market.

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