Great Wall signs TV venture

Great Wall Electronic International yesterday signed a two-year agreement with Grundig for the manufacture and distribution of televisions in Greater China under the German firm's brand name. Chairman Wong Kwok-wing said Great Wall had submitted to Grundig target sales for the first year of 100,000 sets, of which 85 per cent will be made by Great Wall. The remaining 15 per cent will be imported from Grundig's headquarters in Europe.