TCL Corporation announced on Sunday that it aims to increase production to 20 million mobile handsets this year, including output from a venture with French telecom gear maker Alcatel.
TCL chairman Li Dongsheng said the firm made about 10 million handsets last year but he expected the joint venture with Alcatel to boost demand from international markets and, subsequently, production.
TCL Communication Technology Holdings, the mobile phone-making unit of TCL Corporation, will take an initial 55% stake under the joint venture deal signed earlier this year. TCL Corporation, which lists shares in Shenzhen, is to contribute 55 million euros (US$67.7 million) to the venture. Alcatel will have 45% after contributing 45 million euros including its mobile handset business in China.