TCL's H1 net profits soar
Chinese electronics maker TCL Corp saw its net profits soar in the first half, helped by strong growth in smartphones and home appliances sales, according to a statement filed with the Shenzhen Stock Exchange Monday.
TCL expected a surge of 85-92 percent year-on-year in net earnings in the first half, with net income attributable to its shareholders estimated at 1.43-1.48 billion yuan ($230.51-238.57 million) during the period, according to the statement.
Solid sales recorded by smartphones and home appliances were identified as the prime growth drivers for the company, with a striking rise in sales of smartphones being most notable, which skyrocketed 168.6 percent year-on-year in the second quarter to a total of 8.72 million units.