TCL set to make profit in second half

By Du Wenjuan and Wang Bo (chinadaily.com.cn)
Updated: 2009-07-03 15:02

TCL Group, one of China's major television and electronics manufacturers, is expected to turn a profit in the second half of this year, said Li Dongsheng, president of the company, on Friday.

Li said the global financial turmoil has offered great opportunities for the company to tap the foreign market and is confident in the company's domestic and overseas development over the long run.

"As US and European countries are relatively matured markets, it will take 10-15 years for the TCL brand to take root in these countries," Li commented on the sidelines of the ongoing two-day Global Think Tank Summit in Beijing.

In the first quarter, TCL Group made a total profit of 14.94 million yuan, slumping 96 percent from a year earlier due to its shrinking overseas business as a result of the world economic crisis.

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