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TCL Reports Overseas TV Sales for October
Nov 17, 2003
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TV maker TCL International Holdings Ltd. said it sold 429,000 televisions overseas in October, bringing its total foreign sales in the first 10 months of 2003 to more than 90 percent of its full-year target.

The October figure was 3.8 times higher than a year earlier, it said, and combined with sales of 2.57 million units in the first 3 quarters, the company is getting closer to its revised 2003 overseas TV sales target of 3.2 million sets.

The strong growth in overseas sales continues the trend during previous months, driven by rising original equipment manufacturing orders from the U.S. and Europe.

Domestically, TCL sold 702,000 televisions in October, up 28 percent from a year earlier.

Earlier this month, the company formed a joint venture with France's Thomson S.A. to make television sets, making it the world's largest biggest television set manufacturer with an annual production of 18 million TVs.

TCL derives around half its earnings from handset sales and the balance from television sets.

In October, it sold 697,000 mobile handsets, up 21 percent from a year earlier, while sales of personal computers, which make a negligible contribution to profits, grew 33 percent to 58,000.

The Chinese consumer electronics maker intends to sell a total of 7.5 million televisions in the domestic market this year and has a mobile handset sales target of 9.5 million.
(Dow Jones)

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