August 17th, 2012 | China Daily TCL signs $500m agreement with Brazilian firm
TCL Corp, one of China’s largest electronics companies, signed an economic and trade agreement worth more than $500 million with a leading Brazilian electronics company on Aug 15 at the China Sourcing Fair in Sao Paulo, the Securities Times newspaper reported.
The report didn’t disclose the name of the Brazilian company.
The deal is the largest trade cooperation agreement ever for TCL in the South American market, the report added.
At the China Sourcing Fair, TCL presented its full line of products, including the latest smart TVs, mobile phones, air conditioners and small appliances.
Brazil has always been a strategic market for TCL due to its huge potential, said Li Dongsheng, chairman of TCL.
Last year, TCL set up a representative office in Brazil in an attempt to boost its expansion in South America.
TCL sells about $200 million yuan ($31.52 million) worth of products in Brazil every year, and it also has opened factories there with local partners.
By Huang Ying