HONG KONG, Dec. 16, 2011/PRNewswire-Asia/ -- TCL Multimedia Technology Holdings Limited ("TCL Multimedia" or "the Group", HKSE stock code: 01070) is pleased to announce that its annual LCD TV sales volume exceeded 10 million sets as of 14 December 2011. This is the first time a Chinese TV manufacturer reached 10 million sets in its annual sales volume, setting a new milestone in the development of the TV industry in the PRC. Meanwhile, the Group remains optimistic about the prospect of the PRC's TV industry and its business development, as well as confident in reaching its annual sales target of 10.2 million LCD TV sets in 2011.
On 16 December 2011, TCL Multimedia held a Celebration for the 10 Millionth LCD TV Sold and the Ceremony of the Collection for the 10 Millionth LCD TV by its Corporate Museum in Beijing. In the presence of the Senior Management of institutions in the PRC TV industry and TCL Senior Management, the 10 millionth TV sold by TCL in 2011 was collected by its corporate museum in the ceremony. The purchaser of this TV was also granted Lifetime Honorary Customer with the lifetime privilege to purchase TCL-branded TVs with a 50% discount.
Mr. Zhao Zhongyao, Chief Executive Officer of TCL Multimedia, said, "Annual sales volume of 10 million TV sets are deemed challenging for TV manufacturers. There are very few enterprises who have surpassed this figure in the global market. We are pleased that TCL Multimedia has become the first company in the PRC to exceed 10 million sets in its annual sales of LCD TVs. This not only signifies a new milestone in the development of the PRC's TV industry while transforming the Chinese brand into one of the leading international brands, but also demonstrates an initial achievement of the Group's entire industry chain integration, globalized sales network and product line optimization."
According to DisplaySearch report in the third quarter of 2011, the global LCD TV market share of Chinese TV manufactures reached approximately 20%, of which TCL Multimedia is ranked No. 7 in terms of the global LCD TV market share in the third quarter of 2011, making it the first among Chinese TV manufacturers. TCL Multimedia continued to enhance the speed and efficiency of its operational and marketing strategies. As a result, LCD TV sales volume continued to grow rapidly in the PRC Market and Emerging Markets. While the growth in the global TV market has been slowing down and international first-tier brands have revised down their sales targets, TCL Multimedia performed exceptionally well with rapid sales volume growth amidst adverse circumstances. The Group's LCD TV sales volume from January to November 2011 amounted to approximately 9,304,100 sets, up 43.7% year-on-year, among which the LCD TV sales volume in the PRC Market and Overseas Markets increased 28.2% and 75.4% year-on-year respectively. In addition, LCD TV sales volume in Emerging Markets surged 144.8% year-on-year. Leveraging its strong sales growth, TCL Multimedia upgraded its annual sales target twice, once up from 8.5 million sets in the beginning of this year to 9.6 million sets in the middle of this year and the second time up to 10.2 million sets in October. On 14 December, TCL Multimedia's annual sales volume officially exceeded 10 million sets, making it the first TV manufacturer in the PRC to exceed 10 million sets in its annual LCD TV sales volume.
TCL Multimedia endeavors to its "integration, innovation and internationalization" development strategy. Looking forward, the Group will continue to invest in the R&D of Smart TVs and 3D TVs, and to strengthen its leading market position in China while further accelerating business expansion in the Emerging Markets. Upon the completion of the acquisition of the LCD module business from TCL Corporation, the competitive edge of the Group's industry chain will start taking effect, symbolizing the initial formation of vertical integration in both up-stream and down-stream of the industry. This not only helps TCL Multimedia acquire competitive advantage in the LCD TV market in the future, but also helps transform and enhance the TV industry in the PRC and refine their core competitive advantage in the worldwide market.
About TCL Multimedia
TCL Multimedia Technology Holdings Limited is one of the largest TV manufacturers globally and its products are sold all over the world. Headquartered in China, TCL Multimedia operates its manufacturing plants and R&D centres across all major continents. The Group's largest shareholder is TCL Corporation. For more information, please visit our website at http://multimedia.tcl.com.
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SOURCE TCL Multimedia Technology Holdings Limited