TCL Electronics Denies Rumors and Reiterates Its Unreserved Commitment to North American Markets

HONG KONG--(BUSINESS WIRE)--TCL Electronics Holdings Limited (“TCL Electronics” or “The Company”, stock code: 01070.HK) finds that Money Today (a media from South Korea) claimed that TCL TV had withdrawn from the North American markets. The above report is factually wrong and untrue. The Company solemnly denied and clarify that it has no plans to withdraw from North American markets or other markets, and business in North American markets keeps continue as planned both now and in the future.

The Company has entered the North American markets for many years, and its business in North America is currently carried out as planned. In the future, the Company’s business strategy in the North American markets will remain unchanged and will be further strengthened. Meanwhile, TCL launches a series of new products at the ongoing 2021 Consumer Electronics Show (2021 CES), including industry-leading Mini LED display technology, TVs, 5G mobile phones and etc. TCL keeps its brand products on the shelf, and they are popular in the North American markets. Some TCL products are temporarily out of stock in a few stores in North America as the sales of certain products exceed expectations. In the first three quarters of 2020, the TCL brand TV sales volume in North American markets increased by 24.8%, ranking No.2 in America in terms of market share of TCL brand TV. The market share of TCL brand TV, in terms of sales volume, increased by 2.7 percentage points year-on-year to 11.3%, firmly ranking among the global top three. In the future, the Company will introduce more products to North American markets in order to increase its market share and brand influence.

About TCL Electronics

Headquartered in Shenzhen, China, TCL Electronics Holdings Limited (stock code: 01070.HK, incorporated in the Cayman Islands with limited liability) is engaged in the research and development, manufacturing and distribution of consumer electronic products such as smart TVs and mobile communication devices and independently developed home Internet services. TCL Electronics has emerged as a world-leading and China's only diversified consumer electronics platform with advantages of vertically integrated industrial chain. With smart display as the core of the strategy and 5G and "AI x IoT" as technology drivers, TCL Electronics provides users with a smart and healthy life with household, mobile and commercial scenarios and is devoted to becoming a world-leading smart technology company. According to the latest report from Sigmaintell, the market share of global brand smart TV of TCL Electronics in the third quarter of 2020 ranked Top 3 in the world. With leading positions in the domestic and overseas markets, the MAU and ARPU of TCL Electronics' home Internet operation platform (“Falcon Network Technology”) both ranked among the top in the PRC market. TCL Electronics has also emerged as the industry's only Chinese company with sustainable and large-scale revenue in the overseas Internet services. TCL Electronics is included in the eligible shares list of the Shenzhen-Hong Kong Stock Connect Scheme, Hang Seng Stock Connect Hong Kong Index, Hang Seng Composite MidCap & SmallCap Index and Hang Seng Corporate Sustainability Benchmark Index. For more information, please visit the website of investor relations of TCL Electronics: http://electronics.tcl.com.