TCL Corporation reported financial results for the first nine months at CN¥2.6 billion ($411 million). Turnover was up 7% YoY at CN¥ 74.1 billion ($11.6 billion). Chinese sales of Smart TVs and 4K TVs increased to 51.7% and 19.2%, respectively.
TCL’s net profit was mainly attributable to its subsidiary, China Star Optoelectronics (CSOT), which reported turnover of CN¥12.7 billion ($2 billion) and profit of CN¥1.8 billion ($282 million) over the first three quarters of the year. Despite a downturn in the LCD panel industry, CSOT maintained steady growth. This was due to a new strategy that moved the focus from efficiency to products, in order to improve competitiveness.
