Chinese TV maker TCL announced that its smart TV subsidiary FFalcon Technology has introduced Tencent as a strategic investor.
Tencent invested CNY450 million in acquiring a 16.67% stake. Meanwhile, FFalcon Technology's controlling shareholder will also add a CNY30 million investment, while its total shareholding ratio will decrease from 54.05% to 45.55%.
FFalcon Technology was jointly invested and established by TCL's multimedia subsidiary FFalcon, Shenzhen Qianhai Fende Investment Company Limited, and its employees. The company is mainly engaged in the design, manufacturing, and sale of FFalcon-branded smart TVs. It is also responsible for the operation of all smart TV terminal platforms of TCL multimedia and its controlling subsidiaries in China. At present, the company's smart TV platform has 20 million active users.
Commenting on the cooperation, TCL said that the investment of Tencent will provide capital support to the business development of FFalcon Technology. At the same time, the company will implement strategic cooperation with Tencent in content sharing, product innovation, marketing, and member operation to realize complementarity and synergy of resources.
