TCL Sells 82% Of Computer Stake, Won't Give Up Computer Business

Liang Qichun, a spokesperson from TCL Group, has told local media that though TCL will sell 82% of its computer company's stakes to an unnamed Hong Kong registered company, it will still keep the computer business as its core focus.

The spokesperson says that TCL introduced strategic investment for the computer business in order to make it develop in a healthier manner. He also admits that the selling of the stake is to solve the company's debt problems accumulated over recent years.

On November 27, TCL Computer's top management announced the company's plan of selling 82% of their stake for cash. In the meantime, they said that they had signed a complementary agreement with the buyer in which they said that TCL would enjoy priority in purchasing back the stake in the future. So far, TCL has not disclosed the details of the transaction or information about the buyer of the stake.

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