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TCL Communication sees Q4 sales fall 23%
2016-03-23 11:06:00| Telecompaper Headlines
(Telecompaper) TCL Communication Technology reported a fall in revenues and profits for 2015, as weak economic conditions and fluctuating exchange rates hit results towards the end of the year. Revenues were down 23 percent year-on-year to HKD 8.275 billion in the fourth quarter, led by drops of nearly 80 percent in China and the rest of Asia. In the company's biggest market Latin America, sales fell 15 percent to HKD 2.943 billion. Over the full year, revenues dropped 7 percent to HKD 28.558 billion, and net profit declined 5 percent to HKD 1.057 billion. Device shipments were still up 9 percent in 2015 to 80.0 million units, and smartphone shipments rose 7 percent to 44.5 million. However, smartphone growth slowed and better-than-expected feature phone sales led to a drop in the average selling price for the group to USD 46.0 from USD 53.5 in 2014.
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Category:Telecommunications