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TCL Establishes JVs with an Argentine Electrical Appliances Giant
2018/01/21
On November 28, 2017, TCL Multimedia Technology Holdings entered into a Subscription Agreement with Radio Victoria, an Argentine house-hold electrical appliances giant, to establish two joint venture (JV) companies, with a total investment of about US$ 150 million. These JVs will produce and distribute air conditioners, TV sets, cellphones, and small household electrical appliances.
 
As trade protectionism is enforced in the Argentine market, high taxes are paid by foreign electronic and household electrical appliances brands, so foreign companies can secure only a small market share. In the past, TCL carried out business through Radio Victoria, the exclusive distributor of the TCL brand in Argentina.
 
According to the announcement released by TCL, there are two JVs, namely RVF and Sontec, and TCL Argentina owns a 15% share of each JV. TCL aims to change its involvement mode in the Argentine market, shifting from a passive strategy partner to a shareholder, accelerating business expansion in the South American market.
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