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TCL signs product supply agreement with Videocon
Wednesday, 03 November 2010, 18:17 IST
New Delhi: Chinese consumer electronics maker TCL has entered into an agreement with Videocon for supplying products and plans to invest $30 million (around 
130 crore) to expand its business in India.
"TCL has signed a strategic partnership with Videocon which entitles them to supply Videocon with LCD, CRT TVs and ACs for a period of 2010-2011," TCL said in statement.
The company is present in India through a 100 percent subsidiary - TCL India Holdings and has been an original equipment manufacturer to leading electronics and appliance firms in India. "India being one of the fastest growing economies in the world and is one of the strategic markets in our global expansion plans," said Li Dongsheng, TCL Group Chairman.
As part of its expansion plan in India, the company said it will enhance its distribution network, besides introducing more products for the Indian consumers. The company has announced an investment of $30 million for it.
Currently the company has 20 branch offices and a dealer network of over 5000 with 136 service franchisees. It plans to open up 10 branch offices and add another 1000 dealers in the next one year.
"At present TCL has a stronghold in the southern market and is now eyeing the eastern and western regions to garner larger market share," the company said.
In 2009, TCL had a global sales of $6.49 billion. It has 18 R&D centres, 20 manufacturing bases and more than 40 sales offices around the world.
Source: PTI
130 crore) to expand its business in India.
"TCL has signed a strategic partnership with Videocon which entitles them to supply Videocon with LCD, CRT TVs and ACs for a period of 2010-2011," TCL said in statement.
The company is present in India through a 100 percent subsidiary - TCL India Holdings and has been an original equipment manufacturer to leading electronics and appliance firms in India. "India being one of the fastest growing economies in the world and is one of the strategic markets in our global expansion plans," said Li Dongsheng, TCL Group Chairman.
As part of its expansion plan in India, the company said it will enhance its distribution network, besides introducing more products for the Indian consumers. The company has announced an investment of $30 million for it.
Currently the company has 20 branch offices and a dealer network of over 5000 with 136 service franchisees. It plans to open up 10 branch offices and add another 1000 dealers in the next one year.
"At present TCL has a stronghold in the southern market and is now eyeing the eastern and western regions to garner larger market share," the company said.
In 2009, TCL had a global sales of $6.49 billion. It has 18 R&D centres, 20 manufacturing bases and more than 40 sales offices around the world.
Source: PTI