21 January 2019

Chairman Li to rebuild TCL from online out, paper says

TCL Corp. (000100.CN) chairman Li Dongsheng said the electronics multinational will overhaul its business so that in five years it will be largely reliant on the internet and services will account for half of the company’s income, the China Securities Journal reported Wednesday. Li said the shift to a new mix of intelligent applications and internet products and services is imminent because the traditional household electrical appliance industry is being squeezed and manufacturers are locked in undifferentiated competition, the report said.

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