TCL estimates its 2021 profits at over $2 billion, thanks in part to significant growth in higher-end TV sales
TCL, an increasingly familiar name in the home media-consumption and home-theater space, had previously revealed that its profits hit the billion-dollar mark half-way through 2021. Now, the company has totted up all its revenues and profits for the whole of the same year, and indicates that it kept its momentum going for all 12 months involved.
TCL has an Industrial arm, in addition to Technology divisions and of course its CSOT display-development group, all of which contributed to total revenues that grew by 65% YoY to $38.1 billion in 2021, of which $2.59 billion (+129% YoY) remained as net profits.
However, the OEM's consumer business arm stood out in terms of performance, particularly in terms of mid- to premium-tier TV sales. Those of its mini-LED models rose by 50.5% YoY, while TVs with QLED displays did even better at +53.8% YoY. These figures may have helped propel TCL to top-3 status in this market worldwide for 2021, with a share ending the year at 11.5%.
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