Chinese group TCL sets up partnership in Brazil

18 October 2016

Chinese group TCL has entered the Brazilian market through a partnership with Brazilian company Semp, in which Semp is providing 60% of the starting capital of 200 million reais (US$62 million) and TCL the remaining part, reported Brazilian financial daily newspaper Valor Económico.

Semp TCL (https://www.semptcl.com.br/) will supply consumer electronics, audio, video and computers, as well as televisions.

The president of TCL, Li Dongsheng, told the newspaper that “although we arrived late to the Brazilian market, I think we have the conditions to become one of the major firms” and added “this is a good time to invest in Brazil.”

The new company will sell products of three brands – Semp, TCL and also Japanese brand Toshiba, under a licensing agreement, which after being a major shareholder of Semp decided to discontinue production of consumer goods under the Semp Toshiba brand to focus on the business market.

TCL Corporation is an electronics group based in Huizhou, Guangdong Province, manufacturing products such as televisions, mobile phones, air conditioners, washing machines, refrigerators and other small appliances.

The Group has three listed subsidiaries – TCL Corporation on the Shenzhen Stock Exchange and TCL Multimedia Technology Holdings Ltd and TCL Communication Technology Holdings Ltd on the Hong Kong stock exchange. (macauhub)

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