Sony to produce LCD TVs in Russia

Sony will be able to produce 300 000 televisions a year with beginning this year at Baltmikst plant in Kaliningrad. Baltmikst who received the production order from Sony may also get to manufacture Panasonic's LCD TVs. Negotiations about that contract are ongoing. Baltmikst hopes to sell Kaliningrad-produced Sony LCDs for $160 million this year. Advantage Group invests in real estate development and electronics production and also manages the Baltmikst factory. With the status of a free economic zone, Kaliningrad Region has rapidly become the hub of electronics manufacturing. The area is a home for a number of television producers such as Radioimport, Polar, Telebalt, Roslen and others. Samsung also has plans to build its own factory in this region where companies save roughly 10 percent on production costs.