TCL to Restructure Mobile Phone Joint Venture

From FT.com: TCL to revamp mobile phones venture

"TCL, the Chinese electronics group, is to undertake a substantial restructuring of its mobile phone venture with Alcatel of France, after admitting the business had failed to keep up with rivals on pricing and technology."

"The company will transfer research and development work from France to China to save on costs. French R&D staff will be redeployed within Alcatel. TCL will also merge the venture with its other mobile business, TCL Mobile, which has up to now existed as a separate unit.
It was announced in May that Alcatel would switch its 45 per cent holding in a joint venture to a 5 per cent holding in TCL Communication Technology, (...)."

"TTE, TCL’s TV business, the world’s largest supplier of television sets after buying Thomson’s TV and DVD player operations in 2003, is also being restructured."

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