TCL Corporation achieved turnover in the first quarter of the year of $3.8 billion, up 10.2% year on year, while net profit reached $123 million. Excluding non-recurring gains and losses, net profit was $86 million, almost 300% higher YoY.
TCL attributed its strong first quarter performance to the continuous improvement in profitability of TCL’s subsidiary, China Star Optoelectronics Technology (CSOT), and continued growth in its smartphone business. CSOT maintained production at full capacity and sold all goods during Q1, producing 406,000 glass substrates, a 10.4% rise YoY. Sales of LCD panels and modules totaled 6.14 million units, generating sales revenue of $695 million, while net profit was 68.9% higher at $101 million.
TCL Communication Technology posted a 23.1% increase in Q1 turnover to $870 million, with net profit up 5.7% to $24 million. TCL’s Multimedia business reported strong gains in the first quarter, as net profit increased 184.6% YoY to $6 billion and turnover
TCL’s multimedia business reported strong gains in the first quarter of this year, with improvements both in financial results and business operations. In the first three months of 2015, TCL Multimedia Technology generated sales revenue of $1 billion and net profit of $6 million, an increase of 184.6% from the same period a year ago.
