Turkish electronics manufacturer acquires minority stake in Chinese streaming platform

Vestel Elektronik, a prominent Turkish electronics manufacturer, has reached an agreement to acquire a minority stake in Chinese streaming platform Vidaa. The acquisition is expected to enable Vestel to generate advertising revenue from TV sales in the near future.

According to a statement submitted to the Public Disclosure Platform (KAP), Vestel will purchase a 4.64% share in Vidaa International Holdings, a subsidiary of Hisense, China’s second-largest TV manufacturer. The deal aims to create new revenue-generating business opportunities between the companies.

Vestel is one of Türkiye’s leading electronics and home appliance producers, known for its extensive range of televisions, refrigerators, washing machines, and other consumer electronics.