Radio Shack Continues Expansion in Asia

Radio Shack enters franchise agreement with Cybermart

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RadioShack Corp. has reached a deal to further expand in Asia.

Fort Worth-based RadioShack on Thursday announced a joint venture with a Chinese company to open consumer electronics stores in China, Taiwan, Hong Kong and Macau.

Details are in a filing with the U.S. Securities and Exchange Commission.

Cybermart will hold a 51-percent stake in the venture. The first store is slated to open next month in Shanghai.

In March, the Shack entered into an agreement with a Malaysia businessman to open 1,000 franchises along the Malay Peninsula including stores in the Phillipines, Indonesia, Singapore, Cambodia and Vietnam.

Copyright AP - Associated Press
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