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TCL turnaround

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Updated: 2007-06-14 16:56

TCL, one of China's major television and mobile phone makers, is expected to turn around its ailing European operations with a major restructuring ending this month.

TCL president Li Dongsheng says the corporation should recover losses incurred in the European market and strengthen its position in the Chinese market.

"As a new operation framework and procedures have been established, our European business will grow in a smooth and healthy way," Li said during the International Business Groups Annual Conference 2007 in Beijing.

TCL acquired the television and mobile phone businesses of France's Thomson and Alcatel in 2004. However, the deals put a heavy financial burden on TCL, which posted losses of almost 220 million euros in the European market in 2006.


(For more biz stories, please visit Industry Updates)


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