12 May Chinese semiconductor industry likely to achieve the leading role, TCL CEO says
“I reckon it’s more likely for Chinese semiconductor panel industry to achieve the leading role or an extremely competitive position in the world”, said Li Dongsheng, TCL Chairman&CEO in an interview to Bloomberg ahead of “One Belt, One Road” Summit in Beijing.
Chinese electronics giant TCL has grown to be the third largest manufacturer of panels in the world since its foundation in 1981. Semiconductor panels have become the biggest operation in the whole TCL system after the company invested 66 billion yuan ($9.5 billion) to build and put in use three semiconductor factories.
Globally, the semiconductor industry has grown to be a $335.2 billion industry since 1960, with the US holding the dominant role. However, this dominance is threatened by “Made in China 2025” programme that aims to replace imported semiconductors with domestic products. The programme is fueled by the massive state-directed investments in the industry.
“We’ve seen a clear trend of upgrading Chinese export structure”, Dongsheng said. “Not only those traditional electronic products are being shipped to overseas markets, but also the high-end products, like high-speed trains and telecommunication equipment”.
Meanwhile, TCL wants to become a top TV maker in the world in five years. “We are investing heavily in the research and development of the next generation of display technologies”, Dongsheng added.
CM CrossPay entered into a wide ranging agreement with TCL GoLive and its entertainment subsidiaries in March. The platform will help TCL to fast rack repatriation of export revenues and streamline subscription payments for entertainment divisions GoLive TV and Hawk Digital Entertainment, which collectively serve over 50 million subscribers.