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2003-4-8 8:59:00
Mainland China—In an indication that China-made color TVs have entered the mainstream consumer market worldwide, Xiamen Overseas Chinese Electronics Co. Ltd's (Xoceco) was recently chosen to supply HDTVs to Best Buy, one of the largest specialty retailers of consumer electronics, entertainment software and appliances in the United States.
In September of last year, Best Buy has invited Xoceco and some of the leading TV manufacturers including Toshiba, Panasonic, Phillips and Samsung for public bidding. After three months of deliberation, Xoceco's 34-inch HDTV won the final bid.
"We are very proud of securing this contract. China-made products are no longer considered as low-end merchandises," said Li Yong, GM of Xoceco's Overseas Division.
Best Buy Co. Inc. (NYSE: BBY) operates retail stores in almost every state in the United States, and plans to have more than 550 stores nationwide by 2004. It also runs a chain store operation in Canada.
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