TCL Multimedia announced a strategic transformation from product maker to provider of multimedia entertainment technology. The shift mirrors the evolution of TVs toward high resolution, smart, Internet connected devices.
The brand entered a joint venture with IMAX Corporation to create home entertainment devices and content. In collaboration with Roku, it created a smart TV with streaming media. In a brand building exercise, the company opened the TCL Chinese Theater, the world’s largest IMAX venue, on Hollywood’s famous Walk of Fame.
TCL manufactures and sells TVs, air conditioners, refrigerators and other home appliances and electronics worldwide, through three subsidiary TCL companies, including TCL Multimedia Technology Holdings, Ltd.
Net income jumped 136 percent to $239 million on a 13 percent revenue rise to $7.1 billion, in the first half of 2014. For the full year 2013, net income grew 172 percent to $343 million on a 26 percent revenue increase to $13.8 billion. TCL Corporation was listed on the Shenzhen Stock Exchange in 2004.