Imax Corp. (IMX) plans to develop and produce in-home theater systems in partnership with TCL Multimedia Technology Holdings Ltd. (1070), catering to a growing market of wealthy Chinese customers seeking to equip their homes with cinema-style systems.
The first products will be introduced in China and other unspecified global markets in 2015, according to a statement today. The new system will allow customers to access current releases that have been digitally remastered into the Imax format. The joint venture will operate in Hong Kong and China and include research and development, sales, marketing and manufacturing.
Imax, based in Mississauga, Ontario, has been expanding beyond its big-screen roots with a recent introduction of its Imax Private Theatre offering. Now it’s partnering with a Hong Kong-based consumer electronics group that sells home electronics and telecommunications devices.
To contact the reporter on this story: Cecile Daurat in Wilmington at firstname.lastname@example.org
To contact the editor responsible for this story: Cecile Daurat at email@example.com