On January 22, Skyworth Digital Holdings Ltd., Shenzhen City Shenchao Technology Investment Company Ltd., Sichuan Changhong Electric Co. Ltd., TCL Corporation and Konka Group Co. Ltd., whose TV business account for over 70 percent of the China's TV market, have formed a joint-venture with total register capital of 10 million yuan (US$1.24 million) to study the feasibility of entering the thin-film liquid crystal display industry. The five companies will each have 20 percent of the new venture.

Through the new setup, called Shenzhen Julong, the five color television set manufacturers hope to acquire the latest technology to make their own flat-screen televisions, according to media reports.

(Shanghai Daily January 25, 2006)