TCL Multimedia announced that it will sell its computer business and other non-TV assets to its parent company TCL Industrial Holdings Company in order to better focus on its color television service.

The assets to be sold include the share of TCL Computer Technology Company and its computer products; TCL Online Education; and 65% of the stake of TCL Shenzhen Industry Research Company.

The price of the transaction is set at HK$370 million, which is still to be approved by the board of directors.

Li Dongsheng, chair of TCL Multimedia, says that the selling of the non-core business will be conducive to TCL's long term development.