Toshiba signs deal with Vestel for European comeback
10th September 2016
Toshiba will return to the European TV market after signing a licensing agreement with Turkish OEM giant Vestel.
The move, which was announced at IFA in Berlin, will see Vestel take over responsibility for the production, sales and marketing of Toshiba-branded TVs, while design the models for the European markets.
The first products from the partnership will be available in the next few weeks but the majority will be available in Q4 and there will be a new range in Q2 2017, with full distribution across all the different channels, according to Liam La Cumbres, sales and marketing director for the newly-created Toshiba TV Europe.
Turan Erdogan, chief executive of the Vestel Group, stated: “With this strengthened partnership, we look forward to maximising Toshiba’s potential for further growth and market reach. Already a renowned and trusted household name with a reputation for high quality, Toshiba will be positioned as our premier TV brand for Europe.We’ll be working hard to consolidate this market position, drawing on our manufacturing strength to collaborate with Toshiba on future product designs and developments.”