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Business

Published on September 12th, 2019 | by The GC Team

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TCL sees first-half profits grow 139.8%

Chinese manufacturer TCL has said its net profit for the six months ended 30 June 2019 grew 139.8% year-on-year to HK$1.37 billion as its global TV sales volume hit a new record of 15.53 million sets.

Turnover for the first half of the year rose 8% to HK$22.7 billion with sales of TCL-branded TVs outside of China increasing by 49.8% year-on-year to 7.07 million, adding HK$10.77 billion (up 32.5%) to the revenue.

In Europe, volumes rose by 20.7% year-on-year, with France (+57.4%), Germany (+161.1%) and Italy (+196.9%) performing particularly well. In the first half of 2019, the brand ranked 3rd in France in terms of TV sales volume, according to GfK data.

The business also continued to consolidate and strengthen its leading position in North America and emerging markets, with volumes rising by 75.0% and 28.8% respectively.

Looking forward, the company said it would further diversify its businesses to areas including smart AV, commercial display and smart home, while reinforcing and upgrading its existing TV business.

“Ultimately,” it said, “TCL aims to consolidate its position as a global leading smart technology company.”

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