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TCL, Xiaomi Leaders Talk Innovation

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China-based TCL Communication and Xiaomi reiterated that a strong internet-focused strategy as the way to survive and thrive in the fiercely competitive technology sector in the years ahead. The heads of both companies, now hoping to replicate their success in the mainland in the wider global market, were among the main speakers at the recently held APAC Innovation Summit last week in Hong Kong.

“We are exploring a refocusing strategy with us moving towards smart appliances and a TV-plus services model,” said TCL chairman and CEO Li Daosheng, admitting that the company’s growth rate is not at par with that of other internet and social media firms.

TCL’s revenue has increased from 28 billion yuan ($4.6 billion) to100 billion yuan ($16.3 billion) since its first aggressive move into foreign markets, when it acquired Alcatel’s handset business and Thomson’s TV unit in 2004. The company’s international business accounts for 28% of its total revenues and is a major driver of its growth. Click here to read more

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Wahengbam Rorrkychand

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