August 9 -- TCL Corporation (000100) posted a 241.67 percent year-on-year rise in first half 2011 net profit to 539 million yuan on an 18.08 percent increase in revenue to 27.36 billion yuan, reports China Business News, citing a company filing.

The communication business contributed revenue of 3.86 billion yuan, up 27.21 percent year-on-year. Its net profit contribution hit 327 million yuan, up 49.64 percent year-on-year.

The multi-media business contributed revenue of 11.03 billion yuan and net profit of 123 million yuan. This business had recorded a loss in the first half of 2010.

According to TCL Corporation, most of the profits earned by its multi-media business were from sales increases in the Brazilian, Indonesian, and Thai markets, and from its penetration into the rural markets of China.

Sales of flat panel TVs increased 23.9 percent year-on-year to 4.03 million units in the first half, of which LED TVs accounted for 34.2 percent of the total.

According to TCL Corporation, sales of liquid crystal display TVs (LCD TVs) increased 31.89 percent year-on-year to 4.86 million units in July.

The company put its 8.5 generation LED display production line into operation yesterday. The production line had cost the company 24.5 billion yuan, and is expected to operate at full capacity by the end of 2012.

Upon reaching full capacity, the production line will produce 17.5 million units of TV modules per year and bring in annual sales revenue of 20 billion yuan.

Source:capitalvue