TCL’s Consumer Tech Arm Had 195.3% Net Profit Growth in 2021

TCL Group’s 2021 net profit climbed 129% year over year, reaching $2.59 billion, based on 65% revenue improvement to $38.1 billion, reported the company Friday. TCL Technology, which includes TCL's consumer tech operations, had revenue of $24.7 billion, a year-on-year increase of 113%, and a net profit of $2.26 billion, up 195.3% from 2020, it said. Panel maker China Star Optoelectronics Technology, part of TCL Technology, had a year-on-year shipment increase of 36% in area terms in the large-sized display business and 23% in the small and medium-sized display business, it said. Sales of TCL quantum-dot LCD TVs increased 53.8% year on year and miniLED TVs were up 50.5%, it said.