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Jumat, 29 November 2019 13:38:00
TCL Electronics' (1070.HK) Sales Volume Strongly Increases in Brazil and Ranks No.1 in Australia in Q3
SHENZHEN, - EQS Newswire - 29 November 2019 - At 8.5 million square kilometers and with about 210 million people, Brazil is the world's fifth-largest country by area and the fifth most populous. The major barrier for most global players in the Brazilian market is lacking a right local business partner.
Many companies failed to enter into the Brazilian market, while TCL Electronics (1070.HK) gained a firm foothold and achieved brilliant results. Currently, TCL TV has entered all the main distribution channels of the market, including Via Varejo, Magazine Luiza, and etc., which covers more than half of the market. In addition, the Company has also cooperated with important local online distribution channels such as B2W. TCL Electronics' TV products are mainly positioned as mid-to-high end and the ranking rose from No.6 in 2016 to No. 5 in the first three quarters of this year in terms of sales volume. Sales volume of TCL TV in Brazil increased by 31.8% year-on-year in the first half of 2019 and 47% in the first three quarters of 2019.
The achievement in the Brazilian market is closely related to TCL Electronics' two strategies.
Before 2016, TCL was an original equipment manufacturer (OEM) in the Brazilian market. Then TCL Electronics quickly seized market opportunities in Brazil and South America. In July 2016, TCL Electronics announced a strategic cooperation with SEMP, a leading Brazilian home appliance brand.
They jointly invested USD60 million and established SEMP TCL, a joint venture company. SEMP TCL started operating on August 1 in the same year. At that time, TCL, as a TV leader, ranked top three in terms of global LCD TV sales volume, and SEMP was one of the largest home appliance companies in Brazil, their cooperation is a strong alliance. SEMP has more than 8,000 sales outlets and about 400 after-sales service outlets in Brazil. Therefore, it was a good move for TCL to penetrate into the Brazilian market.
TCL Electronics then quickly increased its market share via sports marketing around football in South America, such as CONMEBOL Copa America 2019, a five-year sponsorship contract with the Brazilian national team, appointing Neymar as Global Brand Ambassador, and Rodrygo, who just joined Real Madrid CF. Moreover, TCL added two top surfers and Club Atletico Rosario Central in Argentina in its sponsorship list this year. (*).
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*Flash Sports & Media Holdings, Inc. (NASDAQ: FLZH) Announces Non-Binding Letter ................
