Following the likes of Tencent, Alibaba, and Xiaomi, Chinese multinational electronics company TCL plans to restructure its business through the sale of nine subsidiaries, pivoting away from consumer electronics and focusing on enterprises.
The Chinese veteran tech company released an official restructuring plan over the weekend, announcing plans to sell its stake in nine mostly consumer-facing appliance businesses to Guangdong-based TCL Industries Holdings, which was set up in September.
The company told TechNode that it would focus on semiconductors and displays as its core business, with an emphasis on research and development of the next generation of display technology and materials.
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.
Monthly Membership
Yearly Membership
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.