UPDATE 1-GE, Tatung form high-definition TV venture

(New throughout, adds BOSTON dateline)

BOSTON, Sept 23 (Reuters) - General Electric Co (GE.N) said on Tuesday it had formed a joint venture with Taiwanese manufacturer Tatung Co Ltd (2371.TW) to build high-definition televisions, aiming to capture 5 percent to 10 percent of the $200 billion worldwide TV market.

GE, the No. 2 U.S. company by market capitalization, has taken a 49 percent stake in the venture, called General Displays and Technologies LLC.

The venture aims to make televisions that would access the Internet directly, without the use of an external computer. It plans to begin production next year, with a first-year target of 2 million TVs, about 1 percent of the global market, according to a spokeswoman for the venture.

Fairfield, Connecticut-based GE, with businesses ranging from commercial lending to building jet engines, plans to spin off its consumer-related businesses, which also include appliances, to shareholders. (Reporting by Scott Malone, editing by Dave Zimmerman)