General Electric Co. (NYSE: GE) the "do-all" global company that makes everything from glue to aircraft engines to refrigerators, will be re-entering the consumer television market in 2009 through a joint venture with Taiwan's Tatung. GE will own 49% of the venture while Tatung will own 51%. The joint venture stated a goal of capturing 5% to 10% of the global $200 billion television sales market.

It appears GE doesn't just want to enter an already-crowded television marketplace where margins can be exceptionally thin and competition fierce, but foresees a huge opportunity that's not being fulfilled at the moment. And that is, televisions with an internet connection. Yes, there are some devices and some televisions that already have this capability, but they are by no means mainstream. Plop into any retailer and ask for a flat-panel LCD television with an internet connection and you'll witness some store associates getting rather perplexed very fast.

The new venture will be called General Displays and Technologies, LLC (GDT), and will focus on delivering internet content directly to the TV screen. Imagine your TV finding your wireless or wired home network and receiving your content using that instead of cable, satellite or even an antenna. We're not there yet, but this may be the biggest attempt yet to make it happen. The new televisions -- all of which will have a way to connect to the internet -- will be branded GE and will not be marketed to compete as loss leaders and entry-level pricing sellers. GE has bigger plans indeed. We'll be watching with anticipation in 2009.