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TV maker TCL expects 280% profit jump for 2011

Jan. 5, 2012 (China Knowledge) - TCL Corp<000100>, a major Chinese TV and mobile phone manufacturer, said yesterday in a statement the company might have reaped between RMB 1.55 billion and RMB 1.8 billion in net profit in 2011, reflecting a year-on-year jump of between 230% and 280%.

Net profit attributable to shareholders might have reached between RMB 950 million and RMB 1.1 billion in 2011, reflecting a jump of 120% to 150% from a year earlier.

Although the group suffered loss in its 8.5-generation flat TV sales, the Shenzhen-listed firm saw increasing sales in LCD TVs, handsets and other multimedia businesses.

In addition, TCL has sold more than 10 million flat panel TVs worldwide, according to a jointly statement released by the company's units TCL Multimedia Technology Holdings Ltd<1070> and TCL Communication Tech Holdings Ltd<2618>.

In the first 11 months of 2011, TCL saw its sales volume of flat panel TVs increase 43.71%, handsets grow 22.46% and air conditioners surge 57.79% from a year earlier.

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