The Imax Corporation and TCL Multimedia Technology Holdings Ltd, a leading international consumer electronics manufacturer, have planned a joint venture within the home projector market.

Announced on Wednesday, the plan will focus on the home entertainment market in China and will include the designing, development manufacturing of projector based home theatres.

The new system is being developed to provide a more accessible and flexible projector-base home theatre system that complements the recently launched Imax Private Theatre.

The joint venture will include components from each companies range, including Imax advanced projection technology and TCL's sound technology.

The venture is initially based in Hong Kong and the Chinese mainland, where development, marketing and production will all take place.

The new project is Imax' latest expansion following their recent partnership with Prima Cinema Inc, which saw the introduction of cinema-grade Imax Private Theatre into the United States market.

Imax Chief Executive Officer Richard L. Gelfond has expressed his excitement about Imax' new ventures into home projection. He said: "Our recent introduction of the cinema-grade Imax Private Theatre, the partnership with Prima and, now, our joint venture with TCL, are all parts of our carefully designed effort to expand the Imax brand to additional platforms."