China-based device maker TCL Communication is participating in another CNY10 billion ($1.5 billion) M&A fund, and is looking to boost its presence in markets such as VR, as it sees continued tough times in its smart devices business.
The company, which uses the Alcatel brand for its international products, said that to 31 May, it has sold 14.6 million smart devices, down 14 per cent from 17 million in the same period last year. Total sales of handsets and other products was 28 million units, up 3 per cent.
It previously noted that as its Chinese counterparts have also looked to expand into international markets, competition has intensified, pressuring its prices and profitability.
The company highlighted the rollout of its latest products worldwide, noting its "ambition to regain its market share in Asia Pacific region".
InvestmentFollowing the creation of a CNY10 billion industry M&A fund by TCL and Tsinghua Unigroup earlier this year, TCL has now partnered with Hubei Province Yangtze River Guide Fund and Hubei Science and Technology Investment in May to set up another similar-sized pot.
The company said the effort is "investing with a focus on fields such as semiconductors and Internet+ to establish an industry-chain-integrated ecosystem, promote comprehensive 'Intelligence+Internet' strategic transformation and to build and enhance the Product+Service business model".
Virtual realityTCL also said it is working with VR, including being one of the first global handset brands to support Google's Daydream platform. The intention is to launch a Daydream-ready smartphone in the first half of 2017.
"Currently, the group's engineers and designers are working closely with Google to enhance the user experience of the platform, by offering an immersive audio experience, better display and premium content, including music, gaming and entertainment," it said.
The company also said it is "enriching the VR ecosystem by providing innovative solutions ranging from hardware, content and user experience".
Source: TCL looks to innovation to counter smartphone slowdown
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