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TV maker TCL sees profit for 2011 over double

Feb. 29, 2012 (China Knowledge) - TCL Corp<000100>, a major Chinese TV and mobile phone manufacturer, has posted RMB 1.01 billion-net profit attributable to shareholders for 2011, reflecting a year-on-year jump of 134.24%, according to a statement filed with the Shenzhen Stock Exchange.

Operating revenue for last year soared 17.28% from a year earlier to RMB 60.83 billion, of which RMB 59.45 billion was derived from sales revenue, up 18.3% year on year.

TCL Multimedia Technology Holdings Ltd<1070>, a unit of TCL, turned loss into profit of RMB 387 million in 2011. The unit's sales revenue grew by 16.19% from a year earlier to RMB 27.25 billion.

TCL Communications Technology Holdings Ltd<2618>, another unit of TCL, reaped RMB 661 million in net profit and RMB 8.81 billion in sales revenue last year, representing an increase of 8.29% and 16.35%, respectively.

The Hong Kong-listed communication equipment maker sold 43.6 million units of products, principally the handsets, last year, up 20% from a year earlier. Of the total sales, around 5.1 million units were sold in mainland China, jumping 139% year on year, sources reported.

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