TCL posts billion-dollar profits for the first half of 2021
A new TCL TV. (Source: TCL)
TCL, a maker of display panels and products, has released its financial performance figures for the first half of 2021 (1H2021). It claims to have made approximately US$1.426 billion. About 71% of that figure was made by its screen technology specialist division CSOT. The OEM asserts that all aspects of its business has posted "significant" growth and has surpassed its estimates for the half-year.
TCL claims to have made no less than US$11.45 billion in operating income for its latest financial half-year, ended on June 30, 2021. This 153.3% year-on-year (YoY) growth in net income has yielded $1.426 billion (or +765% YoY) in net profit, $1.04 billion (461.5% more YoY) of which the OEM plans to return to its shareholders.
Therefore, TCL has reportedly done very well out of its 2 main lines of business (semiconductor-based photovoltaics and displays). It also noted that its CSOT division sold 17.792 million square meters (m2; 25.3% more YoY) of panel material in 1H2021, to make an operating income of $6.29 billion, (+93.6% YoY) and $1.01 billion (+103% YoY) in net profit.
As for the photovoltaics, they are handled by TCL's relatively new Zhonghuan Semiconductor division for new energy and other non-display semiconductor tech. It made $2.7 billion (+104.1% YoY) in operating income, for $291.42 million (+160% YoY) in net profit. The OEM now plans to spend the second half of 2021 developing its next-gen display products while also optimizing its more conventional lines of products such as its TVs.
Deirdre O Donnell - Senior Tech Writer - 6709 articles published on Notebookcheck since 2018
I became a professional writer and editor shortly after graduation. My degrees are in biomedical sciences; however, they led to some experience in the biotech area, which convinced me of its potential to revolutionize our health, environment and lives in general. This developed into an all-consuming interest in more aspects of tech over time: I can never write enough on the latest electronics, gadgets and innovations. My other interests include imaging, astronomy, and streaming all the things. Oh, and coffee.
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