TCL-Thomson Electronics Corporation: A Failed Joint Venture?
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Case Details:
Case Code : BSTR198
Case Length : 14 Pages
Pages Period : 1999-2005
Organization : TCL-Thomson Electronics Corporation, TCL Multimedia Technology Holdings Limited and Thomson SA
Pub Date : 2006
Teaching Note :Not Available
Countries : China, France
Industry : Consumer Electronics
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Introduction Contd...
It was confident of putting its television business back on track by the end of 2006. TCL's Chairman Dongsheng Li (Li) expressed confidence that TTE would turn things around by aggressively promoting its flat televisions in Europe and US. He said, "Flat panel TV is gaining popularity in major TV markets. Being the leader in the cathode ray tube (CRT) TV segment, TTE would capitalize on its advantages in the CRT TV segment and try its utmost best to improve its position in flat panel TV market."7 However, analysts felt that the path would not be easy for TTE which was still investing heavily in popularizing the RCA brand and was in direct competition with big players like Sony and Samsung.
Background Note
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HCL
TCL was started when Huiyang Electronic Industrial Company, a manufacturer of magnetic recording tapes, formed a joint venture with a Hong Kong-based investor in 1985 and formed TCL Telecommunication Equipment Company Limited (TTECL). During the initial years, TCL manufactured telecom equipment. After registering the TCL trademark in 1986, the company developed its first hand-free, touch-tone telephones in China. By 1989, TCL telephones emerged as the top selling brand in China. TCL forayed into the Chinese television market through a joint venture with the Hong Kong-based Huizhou King Audio Visual Electronics Company Limited and manufactured its first color television in 1992.
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In 1993, it established TCL International Electrical Appliance (Huizhou) Company Limited and TCL Electronics (Hong Kong) Company. In the same year, TCL shares were listed on the Shenzhen Stock Exchange.
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In 1995, TCL underwent restructuring and was renamed TCL Holdings Groups Ltd. and in 1997 was again renamed TCL Holdings Co., Ltd. With the money raised through the listing, it acquired other Chinese television manufacturers such as Luk's Industrial (1996) and Henan Meile Electronic Group (1997). In 1998, TCL entered computer manufacturing by forming a joint venture with Taipei-based GVC Corporation. The venture was named TCL-GVC Computer Technology Company. In 1999, TCL established TCL Mobile Communications and started manufacturing mobile phones. In the same year, TIHL was listed on the Hong Kong stock exchange and the television business was brought under it. TIHL raised US$ 128 million through an IPO... |
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