The TCL Corporation, one of the leading Chinese consumer electronics manufacturing brands, reinforced last Saturday (3rd June 2006) the importance of the Middle East market in its global expansion plans by announcing the establishment of a full-fledged presence in the Arab world.
The TCL brand, which features an impressive range of cutting-edge consumer electronics, was launched today at a high-profile event that was attended by senior UAE and Chinese government officials along with top officials of TCL.
Founded in 1981, TCL Corporation has emerged as one of China’s most valuable brands and a strong international player in its core business – from multimedia to mobile phones, from personal computers to home appliances, from lighting appliances to digital products. In 2005, the company reported revenues of US$ 7 billion, with brand equity of US$3.81 billion.
Describing the development as a further consolidation of Sino-Arab trade relations, Mr. Liang Yaowen, Director General of Department of Foreign Trade and Economic Cooperation of China Guangdong Province, said that TCL’s entry into the Middle East would showcase the emergence of China as a reputed manufacturer of high-quality consumer electronics.
“The Arab world is a major trading partner for China, with over US$10.78 billion in trade reported for 2005,” explained Mr. Liang Yaowen. “This favorable environment is encouraging leading Chinese business groups such as TCL to explore the opportunities in this discerning market and build their profile outside of the Far East.”
TCL’s entry into the Middle East highlights the growing confidence of the region’s customers in high-quality and value-for-money products. In preparation of its debut in the Middle East, the company has partnered with over 10 local companies, who boast of a strong regional penetration and keen knowledge of consumer trends in their markets.
“TCL is already well known in the Far East, Europe and the United States for its high-quality, total-performance products,” explained Mr. Frank Chen, General Manager of TCL Middle East FZE. “Our ambition now is to build TCL in the Arab world as a brand that people instantly recognize and desire. To our existing customers worldwide, TCL means ease of use, performance and ground-breaking technology – all of which combine to deliver a spectacular user experience."
Found in 1981, with headquarter in Huizhou of Guangdong Province, southern China, TCL Corporation runs its business from multimedia to mobile phone, from personal computers to home appliances, from Electric Lighting to digital products, it also expends the business largely to overseas markets. In the past 24 years, TCL has been developing rapidly by a robust pace. In particular, while stepping into 1990’s, TCL began to turn its ideas to create products and services that led a record of an average rate of 42.65% in growth for the past 12 years. TCL becomes one of China’s fastest growing companies. In July 2004 TTE Corporation (“TTE”), the biggest global TV manufacturer, jointly set up by TCL and Thomson, In October 2004, TCL-Alcatel Mobile Phones(TAMP), a joint venture company between TCL and Alcatel is established. TCL has two companies each listed in Shenzhen and Hong Kong stock exchange–namely, TCL Corporation (code: 000100) and TCL International Holdings Limited (code: 1070).
