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China's TCL Reports Q1 Loss
Aug 31, 2005
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TCL Multimedia, a Chinese TV maker, said it suffered a loss in the first half of the year, as it worked to turn around the money-losing TV assets it inherited last year from France's Thomson.

TCL Multimedia Technology Holdings Ltd., controlled by China-listed TCL Corp., reported a loss of HK $96 million (approx. U.S. $12.3 million), compared with a restated profit of HK $381 million (approx. U.S. $49 million) a year earlier.

The year-ago results included the company's former holdings in an affiliated cellphone maker, TCL Mobile, which it spun off last year through a special dividend.

Last year's number also did not include any contribution from TTE Corp., a TCL-controlled joint venture with Thomson that the two companies set up in the second half of last year by combining TCL's TV-making business with Thomson's TV unit. (Reuters)

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