Name change signals strategic shift as the company continues program of diversification
and reinforces TCL's position as a leading global consumer electronics brand
TCL Multimedia Technology Holdings Limited announced the official change of its company name to TCL Electronics Holdings Limited ("TCL Electronics"). The announcement follows the successful completion of formal name change procedures and approval by both the board of directors and shareholders.
The new name reflects the company's broader strategy of business transformation and diversification and strengthens TCL's position as a leading global consumer electronics brand. TCL Electronics aims to generate new profit growth drivers while continuing to invest in and expand its existing TV business, in particular, in segments such as smart internet TV, smart AV, smart home, and commercial display.
"The name TCL Electronics reflects the more extensive product and service offerings now available from TCL, as well as positioning us effectively to pursue our global ambitions," said Tomson Li, Chairman and CEO of TCL Corporation.
In June 2018, TCL Electronics announced the acquisition of TCL Commercial Information Technology (Huizhou) Co., Ltd., a premier asset of TCL Corporation, to expand its business model from B2C to include B2B and enter the commercial display business. With this acquisition, the company will provide customers with tailor-made commercial display products and intelligent solutions that are widely applied in different environments. Two months ago, the company obtained the brand authorization of Japan's Onkyo Corporation, enabling the company to delve into the smart AV market to create exquisite visual-audio and home entertainment experience for customers with the aid of its TV products.
About TCL Electronics
Headquartered in China, TCL Electronics Holdings Limited (HKSE stock code: 01070) is one of the leading players in the global TV industry, engaged in the research and development, manufacturing and distribution of consumer electronic products. Through a new product-and-user-oriented business model that focuses primarily on a "double +" strategy which includes "intelligence + internet" and "products + services" as the main direction, it strives to build a comprehensive ecosystem for smart TVs that provides users with an exquisite experience with its smart products and services. For more information, please visit:http://electronics.tcl.com.