TCL will sell almost half of its smartphone business
According to the source, the company TCL decided to sell half of its mobile business. As part of the restructuring of the TCL Corp plans to sell a 49% subsidiary of TCL Communication Technology, engaged in the production of smartphone.
The amount of the transaction will amount to only 62,8 million dollars. For 18% of the shares will receive the funds Unisplendour Technology Venture Capital and Grande Oriente Investment Fund, 13% will acquire the company Vivid Victory Developments.
The TCL explains his decision to a desire to implement in their business to external investors, with the industrial assets and financial resources, can help to optimize the structure of TCL Communication Technology and to accelerate its transformation.
For the first half of the revenue of TCL Corp left 7.9 billion dollars, an increase of 8%, and net income rose more than 70%. In General, however, the result was achieved thanks to the company CSOT Corp, responsible for the production of LCD displays.
Recall that TCL produces smartphones under the brand Alcatel, BlackBerry, and TCL.