Imax teams with China's TCL to sell home theaters

October 30, 2013 by Kelvin Chan

Imax is partnering with Chinese TV maker TCL to design and manufacture a high-end home theater system aimed at China's growing ranks of affluent movie fans.

The companies said Tuesday the joint venture is expected to launch the new system in China and other unnamed markets starting in 2015.

The home theatres will feature "Imax-enhanced" films delivered straight to homes through a secure system.

Financial terms and the "premium" system's selling price were not disclosed, though Imax said it would cost less than the company's existing Private Theatre system, which retails for $2 million.

Imax Corp. and TCL Multimedia Technology Holdings Ltd. have an equal share in the venture. TCL, based in Shenzhen, China, is one of the world's biggest television makers.

"As content viewing in the home is constantly improving, we wanted to stake out an entirely new position in the premium home theatre market," TCL's chairman Li Dongsheng said in a statement.

The deal is the latest move by the Canadian maker of big-screen technology to tap rapid growth in China, which is both the world's No. 2 economy and movie market. In July, Imax teamed up with local partner Wanda Group to open 120 giant-screen cinemas in China.

The deal comes as Hollywood studios saddled with stagnating domestic box office receipts turn their attention to China, where revenues grew 36 percent to $2.7 billion in 2012.

While international studios are keen to get their films shown in China, the government tightly controls distribution. Only 34 foreign movies are allowed to be shown every year in cinemas nationwide, with at least 14 in 3-D or Imax format. There are no limits, however, on what can be watched at home.

Explore further: Taiwan's AU Optronics in ventures with China's Haier, TCL

More information: Imax Corp.: www.imax.com
TCL Multimedia: multimedia.tcl.com

Related Stories

Chinese company to buy US movie theater chain AMC

May 21, 2012

(AP) -- A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China's biggest takeover of an American company to date.

'Avatar' director launches China 3-D venture

August 8, 2012

"Avatar" director James Cameron's company is launching a joint venture in China to market its 3-D technical wizardry to the country's fast-developing film and television industries.

Recommended for you

Inferring urban travel patterns from cellphone data

August 29, 2016

In making decisions about infrastructure development and resource allocation, city planners rely on models of how people move through their cities, on foot, in cars, and on public transportation. Those models are largely ...

How machine learning can help with voice disorders

August 29, 2016

There's no human instinct more basic than speech, and yet, for many people, talking can be taxing. 1 in 14 working-age Americans suffer from voice disorders that are often associated with abnormal vocal behaviors - some of ...

Apple issues update after cyber weapon captured

August 26, 2016

Apple iPhone owners on Friday were urged to install a quickly released security update after a sophisticated attack on an Emirati dissident exposed vulnerabilities targeted by cyber arms dealers.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.