TCL to open 50 outlets, may start local mfg unit

 The company opened its first three exclusive stores - TCL Universe - in the city on Monday, and the number is expected to increase to 50 outlets by March 2007.

 "India will be a key growth market for us in the next 3-5 years, and we want to capitalise on the growth potential of this market. We are optimistic that India would contribute 25% of our overseas revenue almost on par with the North American and European markets in about 5 years," Tomson Dongsheng Li, chairman and CEO of  TCL Corporation, said.

 Li said the company was currently assessing its options in India and would make an announcement on the investment in the new facility by the end of the year. He said that the company was in talks with local partners and was open to the idea of them holding equity in the Indian entity.

 "Our short-term focus will be on the local market but in the long- term we will consider the idea of making India a manufacturing hub for exports as well. We would also consider bringing our partners from China to set up facilities here," Li said.