Founded in 1981, TCL began as a manufacturer of magnetic tapes. TCL developed rapidly during the 1990s becoming one of China's fastest growing companies with an average growth rate of 42.65% for the past 12 years. The company successfully restructured from a state-owned enterprise with help from international investors.
In 2003, it experienced a crisis of financial statement and failed to go public as a group company. However, that year the group also recorded a revenue of RMB 28.2 billion yuan ($3.5 billion USD),and a profit of RMB 0.57 billion ($70 million USD). A survey on most valuable brands in 2003, conducted by Beijing Brand Equity Evaluation Co Ltd. indicated that TCL is one of China’s most valuable brands with a brand equity of RMB 26.712 billion ($3.3 billion USD). In January 2004, TCL Corporation as a whole was officially listed.
Later in 2004, TCL set up a joint venture creating the TTE Corporation with France's Thomson Group, giving TCL control of the RCA brand and making it the global leader in television manufacturing. At the time, TCL was hailed as the first Chinese company to compete on the international stage with large international corporations.
Analysts cited the company’s willingness to cooperate with competitors as an asset. Investors in TCL include former competitors: Toshiba, Sumimoto, Kingsoft, Nanda, Pentel,and Schneider. In July 2004 TTE, officially started operation in Shenzhen. Also, in April 2004, TCL Mobile and Alcatel formed a joint venture to engage in mobile phone development, production, sales and services.
Recently, TCL has had difficulty due to price competition inside China. The Hong Kong-listed stock dropped 30% in 2004. Also in late 2004, Thomson surprised the market by announcing that it was taking a small stake in Konka Group, a TCL rival.
In late 2005, the Chinese unit of Philips Electronics purchased a 7 percent stake in TCL becoming the company's third-largest shareholder. As of the beginning of 2006, TCL has representative offices in 10 countries and is expanding in Vietnam, India and Germany. TCL has technology partnerships with Microsoft and Intel.
In August 2004, Alcatel set up a joint venture with TCL forming a new mobile business, TCL & Alcatel Mobile Phones Limited (TAMP). TCL owned 55% of this joint venture. In May 2005, TCL signed a ten-year licensing agreement with Alcatel, and TAMP became a 100%-owned subsidiary of TCL.
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