TCL to expand India presence; annnounces pact with Videocon
08 November 2010
Chinese electronics and appliance manufacturer TCL Corporation has announced a $30-million investment plan aimed at increasing its share in the Indian consumer electronic market.
The company, which had entered the Indian market by establishing a 100-per cent subsidiary, TCL India Holdings Pvt. Ltd, also announced a strategic partnership with Videocon that entitles it to supply Videocon with LCD, CRT TVs and ACs during 2010-2011.
TCL plans to expand its sales and services network across India, from the current base of 20 branch offices and a dealer network of over 5000, which is supported by 136 service franchisees.
''India, being one of the fastest growing economies in the world, is one of the strategic markets in our global expansion plans,'' Li Dongsheng, chairman of TCL Group, said.
The company, which has a stronghold in southern market, is now eyeing the eastern and western regions to garner larger market share.
TCL's product range comprises of washing machines, air-conditions, refrigerators LED and LCD TVs. ''TCL will continue to play a key role in the development of cutting-edge quality products, not only for India, but for the global market as well,'' Dongsheng added.
Established in 1981, TCL Corporation is comprised of four business divisions -- multimedia, communications, home appliances and techne electronics, and two affiliated business areas, real estate and investment and logistics & services.