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Imax partners with TCL Multimedia to develop in-home theatres systems for China

The Canadian Press

LOS ANGELES, Calif. - Imax Corp. (TSX:IMX) is teaming up with a Chinese multinational to develop and manufacturer a premium home theatre system, to be launched in China and other markets in 2015.

Imax is best known for 3D and big-screen projection systems used in movie theatres around the world but has been moving recently into the home theatre market.

It's now forming a 50-50 joint venture with TCL Multimedia Technology Holdings Ltd., part of group with more than 20 manufacturing plants and 18 R&D centres around the world.

The companies say the new integrated home theatre system will incorporate Imax projection and sound technology.

They also say customers will be able to access current theatrical releases that have been converted into the Imax format.

The joint venture will initially operate in Hong Kong and mainland China with representatives of both partners on its board.