TCL to Close European Operations

From CHINAdaily:

"TCL Multimedia Technology Holdings, which reported a nine-month loss of HK$1.52 billion (US$195 million), said Tuesday that it would shut its European unit in an effort to return to profit. "

"TCL Multimedia joins Asian companies including Lenovo Group and Benq in posting losses after making overseas acquisitions."

China Net Investor: TCL Corp., is China's biggest publicly traded consumer electronics maker. Three years ago, TCL became the world's biggest TV maker when it bought the television division of France's Thomson SA. This year TCL tumbled from the top TV spot as LG Electronics and Samsung surged ahead. (Source: iSupply)