Editorial Summary

Chinese electronics manufacturer TCL Group (000100.SZ) announced 2007 third quarter results on October 29. TCL Group generated 9.86 billion Yuan in revenue from its main business operations in the third quarter, down 15 percent from the year-ago period. TCL Group's net profit for the three months was 145 million Yuan, up 443.6 percent year-on-year.
TCL Group subsidiary TCL Communications (2618.HK) announced its third quarter earnings the same day. TCL Communications generated HK$1.354 billion in total revenue in the period, down 1.3 percent from the third quarter in 2006. TCL Communications recorded HK$40.221 million in profit in the third quarter, increasing 93 percent from the same period last year.
TCL Group president Li Dongsheng said that TCL Communications' fourth quarter handset order has been fully filled and that annual handset sales for the company will reach 12-13 million phones in 2007, reports China Securities News. Li estimates sales for the company will see a 44 percent quarter-on-quarter increase in the fourth quarter, and said that TCL Communications will release WCDMA handsets in Europe during the same period.