TCL Corporation (000100.CN) announced Tuesday a net profit of 2.89 billion yuan (US$ 473.9 million) for 2013, a jump of 126.7 percent over the previous year, as revenue rose 22.9 percent to 2 billion yuan, the China Securities Journal reported Tuesday. Shenzhen China Star Optoelectroincs Technology Co. Ltd. (CSOT), TCL’s subsidiary involved in TFT-LCD panel production, sold 21.628 million panels last year, booking a net profit of 2.26 billion yuan on revenue of 15.53 billion yuan, the report said. CSOT is now the fifth-largest producer of TFT-LCD panels globally. Meanwhile, TCL’s mobile handset business sold 17.555 million smartphones during 2013, up 169.2 percent over the previous year. When the second phase of its manufacturing base becomes operational this June, its annual handset production capacity will rise to 120 million units from the current 65 million, the report said.
– Contact HKEJ at [email protected]