ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

TCL's 1H profit surges 70% on payroll cuts, LCD growth

Brisk appliance sales help offset weakness in mainstay smartphones

GUANGZHOU -- Chinese consumer electronics maker TCL's net profit jumped 70.7% on the year to 1.03 billion yuan ($153 million) for the six months ended June 30 as widespread layoffs lowered costs.

The company reduced staff at its headquarters by around 30% as part of a restructuring drive that began late last year, slashing administrative costs by 34% on the year. About 10,000 people were laid off groupwide, which lowered fixed costs by about 4%.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more