TCL to Spend Over 20 Billion Yuan on Semiconductor Development, Will Carry Out R&D with Other Tech Giants Including Meituan and Baidu

On Thursday, Chinese electronics firm TCL indicated that over the next five years it will invest more than 20 billion yuan ($3.1 billion) in the fields of smart terminals, semiconductor display and materials, semiconductor photovoltaics and semiconductor materials. It will also develop new applications in commercial displays and smart home appliances alongside Meituan, Alibaba, Baidu, ByteDance and other domestic tech giants.

At the same time, the Guangdong-based company plans to establish joint laboratories with Xiaomi, Longli, Lenovo and HiSilicon, and will carry out joint development with Galaxycore and SVG.

TCL was founded in 1982. Its main business is the import and export of semiconductors, electronic products and communication equipment, new optoelectronic and liquid crystal display devices. At the TCL Global Ecological Partner Conference on Thursday, TCL released a global ecological cooperation development strategy, or the “Rising Sun Plan.” In the future, by participating in the formulation of industry standards, opening up technology and data platforms, strategic business cooperation, joint R&D, industrial investment and more, TCL will build an industrial ecology with global partners.

Li Dongsheng, Founder and Chairman of TCL, said: “We will build the world’s leading intelligent IoT ecosystem. In 2025, the revenue from smart terminal business will reach 250 billion yuan, the proportion of overseas revenue will reach 60%, and the proportion of innovative business will reach 30%.”

Du Juan, CEO of TCL Industrial, said, “In the next five years, TCL Industrial will spend 400 billion yuan on device purchasement and invest 30 billion yuan in research and development.”

SEE ALSO: China Esports Weekly: TCL Sponsors League of Legends Pro League, Chinese Chat Service TT Yuyin Closes $100M Series B Financing Round