By Patrick Avenell
TCL Electronics is bucking the trend of huge losses for Asian electronics companies, with the Chinese manufacturer revealing it expects to post a profit of around RMB 1.8 billion — AU$265 million — for calendar 2011.
While last week both Sony and Sharp both reported troubled times, TCL has withstood these challenges, utilising the China boom to increase profits by almost 300 per cent year-on-year.
“During the reported period, the income of the company's main business rose dramatically year-to-year, and the net profit from sales maintained a stable growth,” said a TCL spokesperson in an email to Current.com.au.
“Of the company's four core industries, TCL Multimedia was the main contributor to the corporation's achievement in rapid overall growth, as reflected by the net profit.
“From Internet TV to 3D display technology and including its current Smart TV, TCL Multimedia has gained an advantage through its technological edge, and has improved the global competitive position of the company through gradually increasing the added value of its products.”
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TCL Electronics further reports that during 2011, it became the first Chinese company to sell 10 million flat panel TVs in a calendar year. Furthermore, TCL claims to have sold 40 million mobile phone handsets during 2011.
“In 2012, TCL Corporation plans to continue carrying out its market-oriented product layout, while continuing to focus on strengthening its global market development and network building.
“Meanwhile, the company will actively enhance the ability of its international operations and continue promoting research and development geared towards globalisation, procurement, production and sales, so as to achieve a steady growth in the overall business through continuous optimisation of its sales structure and active enhancement of technological innovation.”