May 4, 2009 (China Knowledge) - TCL Corp<000100>, a major Chinese television and mobile phone manufacturer, on Wednesday signed an agreement with Chengdu municipal government to set up two new LCD flat-screen TV production lines in its Chengdu plant in the city's high-tech district, sources reported.

The two new production lines are expected to complete construction in October and manufacture 300,000 LCD flat-screen TVs in 2009, and to increase the number to 1.4 million in 2010.

TCL's Chengdu plant earlier posted sales revenue of RMB 1.86 billion for 2008. It produced 610,000 CRT color TVs last year.  

TCL last week said in a statement filed with the Shenzhen Stock Exchange that it may suffer a year-on-year decline of 96% in net profit for the first quarter of this year.