TCL Ranks Top Five in Global LCD TV Market Share
OREANDA-NEWS. June 19, 2012. TCL Multimedia Technology Holdings Limited surged from No. 5 to No. 7, according to the latest DisplaySearch report for first quarter of 2012. While it’s global LCD TV market share increased from 4.9% to 5.6%, thereby, maintaining the No. 1 position among Chinese companies nationwide, reported the press-centre of TCL.
The achievement marks a first for the enterprise and reflects the successful globalization of TCL Corporation. As one of the first Chinese companies to venture into the global scene, the enterprise is racing ahead of its Japanese and South Korean counterparts in terms of sales growth amidst the highly-competitive market.
“Ranking top five in the global market proves that TCL has set the benchmark for Chinese enterprises that seek both domestic and international brand recognition,” says Li Dongsheng, Chairman and CEO of TCL Corporation. “Our efforts in globalization have highly paid off, as can be seen from our relentless move up the global ladder. Based on our philosophy of independent innovation, we will keep on sharpening our competitive edge and work towards establishing TCL as a respected leading global enterprise.”
TCL Corporation aims to enhance its industrial, technical and globalized operation capacities to distinctly boost its overall corporate competitiveness. The company’s adoption of vertical integration in its business has led to reduction in production, transport and packaging costs as well as to guarantee the most competitively-priced products of the highest quality. The success of China Star Optoelectronics Technology (CSOT) realized TCL’s strategic goal to completely build the entire LCD display industry chain thus making TCL the first company in China that can produce LCD TV sets all by itself. “China Star”, the newly-launched world’s largest 110-inch 4X full high definition 3D LCD screen, has proved TCL’s innovative spirit,research and development capabilities.
TCL Corporation has actively geared its business strategies towards globalization to realize profitability in both American and European markets, as well as witness rapid growth in emerging markets. At the end of 2011, TCL became the first Chinese company to sell more than 10 million TV sets. In 2011, the company achieved RMB 60.834 billion in operating revenues, up 17.28% year-over-year, out of which sales revenues totaled RMB 59.448 billion, marking a year-over-year increase of 18.30%. Net profit totaled RMB 1.671 billion, up 253.73% over the previous year.
In 2011, the company built an R&D center in Silicon Valley of the United States They also established a talent training program with Boston-based Massachusetts Institute of Technology, signed a cooperation memorandum with SRI (Stanford Research Institute) International to conduct joint research on smart TV user experience and communication technologies. With the launch of the Whole Cloud Strategy in April, 2012, the Corporation has worked towards fully integrating hardware, software, technology, content, services, internal resources and industry alliances, as well as external strategic partners. TCL has formed comprehensive whole cloud product lines that cover 3D smart cloud TV, smart cloud mobile phone, tablet and other products.
Positioning itself as an emerging leader of innovation and technology in the electronic information industry, TCL is determined to fully utilize the cloud computing technology to offer the most advanced smart products to China and all over the world.