RadioShack announces JV to open small-format stores in China

Fort Worth, Texas -- A Thursday report by Reuters said that RadioShack will take a 49% stake in a joint venture with Cybermart to open small-format, RadioShack-branded stores in greater China.



Cybermart, an affiliate of Hon Hai Precision Industry Co., and RadioShack will open their first location in Shanghai in July. Additional locations are planned for mainland China, as well as Taiwan, Hong Kong and Macau.



According to the report, RadioShack will contribute $2.94 million upfront, and the two partners may contribute another $34 million over the next three years.