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IMAX to launch luxury home theatre systems @ $250,000

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IMAX to launch luxury home theatre systems @ $250,000 The writer has posted comments on this article Reuters | Nov 2, 2013, 11.23 AM IST Share on Linkedin Comments More Google Bookmarks Newsvine Live Bookmarks Technorati Yahoo Bookmarks Blogmarks Del.icio.us ApnaCircle Email this article Save this article My Saved articles Print this article A Reduce font size A Increase font size comments Share More Email this article Save this article Print this article A Reduce font size A Increase font size Google Bookmarks Newsvine Live Bookmarks Technorati Yahoo Bookmarks Blogmarks Del.icio.us ApnaCircle My Saved articles READ MORE
TCL Multimedia | luxury home theatres | Imax | IMAX in China | Tiffany China's newly minted rich can now get up close and personal to movies after IMAX signed a deal to produce luxury home theaters priced at $250,000. RELATED Samsung launches 85-inch UHD TV @ Rs 28L BEIJING: China's newly minted rich can now get up close and personal to the movies after mega-screen maker IMAX signed a deal to produce luxury home theaters in the company's second largest market. tiffany tiffany outlet online The fifty-fifty joint venture with Shenzhen-based TCL Multimedia will give Chinese the chance to watch IMAX-enhanced Hollywood blockbusters in the comfort of their homes, maybe even on the day of their world premieres. tiffany and co tiffany silver The price? At least $250,000. The joint venture is targeting wealthy homeowners in Hong Kong, Russia, and the Middle East, but the main focus, IMAX chief executive Richard Gelfond said, is China. wholesale tiffany jewelry tiffany jewelry "China now is our second largest market in the world, and our fastest growing market," Gelfond told Reuters on Friday. "We spend a lot of time concentrating on the Chinese market." IMAX earns 16% of its revenue in China, and now has 131 screens installed there. Like other global brands, IMAX is betting on the appetite of ultra-rich Chinese for luxury goods and unique experiences, which is also helping the sales of retailers like LVMH and Tiffany & Co. The number of Chinese millionaires rose by more than 14% last year to 643,000, the most recent wealth survey by Capgemini and RBC Wealth Management shows. The country is now home to the fourth largest number of high net-worth individuals in the world. Neither IMAX nor TCL Multimedia chief financial officer Edmond Chen would forecast how many home systems the company expects to sell when it kicks of production in 2015. The deal was signed this week. TCL estimates annual growth for home theater sets is likely to exceed 20% in the next five years. It said the market for home theaters may be about 2,000 sets now. In July, IMAX announced an agreement with local conglomerate Dalian Wanda Group to build up to 120 new theaters in China. The deal would raise the number of IMAX theaters to about 400, with Wanda running around half. Gelfond in September helped Dalian Wanda launch a $8 billion production, entertainment and real estate project in the coastal city of Qingdao, surrounded by stars including Nicole Kidman and Leonardo DiCaprio. Post a comment ALSO ON TOI The whims of political class c... Narendra Modi meets kin of Pat... Noida: Woman found dead in mys... Delhi BJP opposes renaming PDS... Lata Mangeshkar backs Narendra... Jairam Ramesh blasts Modi for ... Some of NSA's actions 'reached... Empire State Building lights u... Female cop shot in the face, c... One killed, six wounded in Los... Pak Taliban chief Hakimullah M... Los Angeles International Airp... Sibal hints at use of black mo... Hamid Ansari reaches London to... Biharis have rejected BJP's 'A... Follow the Times of India - Tech section Search for News
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