TCL Corp. plans on accelerating its process toward globalization to give a better focus on emerging markets.
"Domestic demand has been overdrawn by a series of stimulus measures, so overseas markets will be a vital engine for growth," said Liang Qichun, assistant vice president of TCL Corp.
As a forerunner of Chinese firms venturing outbound for large mergers and acquisitions, the electronics giant will build manufacturing bases in Brazil and India this year and eventually expand into Russia and Africa by 2017, according to Liang.
He also admitted that the domestic market has been quite challenging for the company since the second half of last year, but they have witnessed promising growth in emerging markets.
The sale of TCL mobile phones and other mobile products from January to June saw a year-on-year growth of 16.3 percent.
Further, 86 percent of the sales came from overseas markets, according to the company's interim report, while revenue from intelligent terminals in the Middle East and Africa during the first half of 2015 reached 68 percent.
The company recognizes that there is a waning demand for outdated mobile phones and television which are in common use; thus, the strategy is to utilize the higher demand on smartphone and high-definition technology.
"We must grasp the opportunity to promote our new technologies and products especially in emerging markets so that we can tap into the huge demand generated by large-scale update of electronics products in these markets," said Liang.
"Display technologies and telecommunication technologies are being upgraded globally with 4G phones and 4K curved TVs being promoted widely across the world."