TCL Communications plans joint venture in Argentina
The new initiative in Argentina is part of a two-pronged drive in both Europe and South America, as the company aims to improve its mobile phone business
The chairman of TCL Communications, Li Dongsheng, said on Sunday that the company is planning a joint-venture in Argentina as part of its “Belt and Road” drive, according to a report by Yicai.com.
TCL, a Chinese company listed on the Shenzhen stock exchange and the Hong Kong stock exchange, is also behind the reboot of Blackberry and Palm.
Li said that a joint-venture in Argentina is part of its two-pronged drive in both Europe and South America, the report said. The company has also expanded to the Brazilian market, although its core overseas business remains in Europe. Overseas revenue accounted for 45% of TCL’s total revenue over the first half of this year.
TCL is also looking to expand to Russia, Central Asia and Middle-East regions, as well as Africa as part of its overall “Belt and Road” strategy, according to Li.
TCL also hopes to bolster its handphone business, which accounts for the bulk of the company’s revenue. The firm plans to embark on making high-end phones in China and push for the Blackberry brand in the domestic market, the report from Yicai said.