TCL was founded 32 years ago and while we currently sell only TVs in the US under the TCL brand name, we make a wide range of consumer electronics products and appliances like refrigerators, washers/dryers, air conditioners, blu-ray players, and cell phones in different regions across the world. We look forward to having the opportunity to bring these products to the US market but we want to start by introducing you to our TVs. We have a couple advantages in the TV space that allow us to offer a really great product at a really low price and we’d like to tell you about them.
First, even though we seem small because you haven’t seen us in the US, we’re actually really big – so we have advantages when it comes to volume. We built 18 million TVs last year so we have efficiency when it comes to production, every raw material that goes into a TV from the glass in the panel to the resin in the plastic or the cardboard for the box it goes in – we buy massive quantities of it, so our costs are low. When we create a design for a new TV – it is an expensive process but those costs are spread out across all the TVs that we build for different regions all over the world. There are brands that are really big in the US that sell no TVs outside the US, so while they may be #1 or #2 in the US, they are selling 6 million TVs each year while we sell 18 million.
Second, we are one of only three brands in the US that are vertically integrated – which means that we control our entire production process. We make our own TV panels (the most expensive part of the TV – it’s essentially the screen) at our state of the art factory named China Star (CSOT) that we finished building in 2011 at a cost of $4 Billion (with a B). Then we assemble the TVs at our own factories, and our US sales and marketing team in SoCal sells them to US retailers under our TCL brand name.
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