TCL, among the largest Chinese consumer electronics manufacturing concerns, is launching a domestic IPO to fund expansion. The state-owned company has a huge domestic market for mobile handsets and consumer electronics, but needs to expand overseas to continue its breakneck growth.
The company said: "Because of the armies of multinational companies pressing on our borders, the opportunities are surpassed by the severity of the challenges." Not your standard forward-looking statement. (From the Financial Times, subscription required).
This could be a boon for Motorola, which provides components for several TCL-made products.
Posted by Mitch Ratcliffe at October 1, 2003 10:12 AM | TrackBack